NYSE today announced on its Twitter page that its wholly-owned subsidiary, The New York Stock Exchange, had made a minority investment in incumbent payment processing company Coinbase. The tweet read as follows:
We will work with @coinbase to bring additional transparency to bitcoin pricing http://t.co/Q9xjcXMmjl pic.twitter.com/gJaOiCScNM
— NYSE (@nyse) January 20, 2015
Alongside the twitter announcement came a press release confirming its validity. While the specifics of the investment have not yet been disclosed, we can expect to learn more as to the size and terms attached over the coming days.
Speaking on the announcement, NYSE President Tom Farley said:
With this investment, we are tapping into a new asset class by teaming up with a leading platform that is bringing transparency, security and confidence to an important growth market… We look forward to supporting Coinbase’s growth utilizing our global distribution capabilities and market expertise.
While the announcement may be seen by some as relatively minor – it at least shows that (despite the recent price decline) the powers that be are still working behind the scenes to build the digital currency infrastructure – and in our opinion – long may this continue.
We will take a price dip so long as the long term future of BTC is still being cemented in place! Thoughts? Comments? Let us know…