Noble Markets said Tuesday it is adopting Nasdaq technology for its planned Bitcoin exchange, aiming to give institutional investors a credible platform for trading the digital currency.
The startup said it would implement Nasdaq's X-stream Trading technology, already used by more than 30 smaller markets worldwide, to bring the Bitcoin trade to the Wall Street mainstream from often murky fringe exchanges. Noble hopes that the more proven, transparent and high-speed platform could revive sagging interest in Bitcoin after a year of scandals popped the initial balloon of Bitcoin fervor.
"Noble was founded on the principal of bringing credible market structure and institutional trading expertise to the digital currency marketplace," Noble founder and chief executive John Betts said in a statement.
"Our marketplace, powered by X-stream, allows us to leverage a proven and trusted venue that supports global trading worth billions of dollars reliably every day."
Noble did not give a target for when its exchange would launch.Billed as the most widely used exchange platform in the world, X-stream can handle more than 40,000 orders a second, Nasdaq says.
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