Nasdaq, the leading stock exchange operator is adding the world’s third-largest cryptocurrency XRP to its Global Data Service.
The company made this announcement public on Monday. It has partnered with Brave Coin, a New Zealand based blockchain data and research firm to give the index of cryptocurrencies. From now onwards it will give real-time index information of Ripple from May 1st.
This XRP Liquid Index is capable of giving reference or spot rate for XRP price in U.S dollars. This data will be collected based on most liquid ends of the market. Brave New Coin has made a separate statement where they discussed the sourcing of data and the parameters that they consider.
The most liquid exchanges will be calculated based on their order book depth and volume. The company will be using sources like Poloniex, Bitfinex, Coinbase, Kraken, Bitstamp only. This is to ensure that the reliability of the data is maintained. This new XRP index will consist of data from 2014 and will be renewed in every few minutes.
“Independent Audited” method against International Organizations of Security Commission (IOSC) will be adapted to calculate the index. Ripple is the third cryptocurrency that Nasdaq is indexing. Before that, the top two cryptocurrencies- BitCoin (BTC) and Etherum (ETH) were added to Nasdaq global service.
Nasdaq started cryptocurrency indexing this year only and has partnered with Brave Coin for this purpose only. Ripple has witnessed spurge after getting added into the Nasdaq Global Data Service.