Nasdaq testing crypto waters
NASDAQ recently made an all cash offer of $190,000,000 USD to buy Cinnober . Cinnober is a financial technology provider to brokers, exchanges, and clearing houses globally which Nasdaq views as instrumental to the industry, They released this statement after they made the offer : “The acquisition would strengthen its position as one of the world’s leading market infrastructure technology providers.”
If they manage to close this dea; , Nasdaq would officially make its first major step into the cryptocurrency market, which would ultimately lead to mass-adoption. Cinnober’s Board of Directors have urged their shareholders and warrant holders to accept the deal while ruling in its favor
Nasdaq is the second largest exchange after NYSER in the world with a $10.3 trillion market cap and a monthly trade volume of $1.2 trillion . It is recognized as the first automated, electronic exchange. With its history as leader in innovation in trading markets , it should be no surprise why Nasdaq would propose such an offer to Cinnober.
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