Cryptos to gain broader acceptance via Nasdaq and Samsung support

  • By Tom Cleveland

  • February 28, 2019
  • 2:09 am BST

Crypto enthusiasts are smiling today after two unrelated announcements by two titans in the financial technology arena. The Nasdaq will now include index feeds for both Bitcoin and Ethereum in its Global Index Data Service, and Samsung finally announced that it will include a number of crypto applications on its new Galaxy S10 series smartphone. It will replace 31 million units already in the marketplace. These two moves are viewed as giant leaps forward in mainstream acceptance and adoption of cryptocurrencies.

Brave New Coin, a blockchain and crypto market data company, will provide the aggregated data feeds for Nasdaq’s live listings of the Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX). “The crypto derivative wave is inevitable,” said Fran Strajnar, CEO of Brave New Coin. “Now with indices that align with IOSCO principles being available through the Nasdaq, there’s going to be a rush to produce all manner of financial instruments.”

The importance of this move cannot be understated. According to one insider: “Bitcoin and Ethereum prices will now be displayed in thousands of offices and trade floors across the globe alongside top commodities and fiat currencies.” The feed will be updated every 30 seconds and will offer a “real-time spot or reference rate” for the price of 1 BTC and 1 ETH respectively. Rates are quoted in USD, and “based on the most liquid ends of their markets.”

At the Mobile World Congress in Barcelona on February 25th, Samsung finally made public its plans to include a built-in crypto wallet on its new version of its popular smartphone, the Galaxy S10. Speculation had already begun back in January when internal marketing photos had been leaked to the press, which displayed the new apps prominently on phone screenshots. The new wallet features will support Bitcoin, Ethereum, and two other digital coins Enjin and Cosmee.

The crypto community is excited that Samsung’s support could broaden public awareness and adoption of cryptocurrencies in a major way. Samsung is currently the leading cell phone brand in the world, and the firm shipped over 71 million units in 2018 across the globe, which is only one indication of the potential breath of its influence.

Could Samsung help spread mass adoption of cryptocurrencies? Per one reporter: “The news is a big surprise for the industry, and could potentially be a catalyst for massive growth in the space, if Samsung can successfully launch a usable blockchain wallet.”