RATE Group | Nasdaq, Morgan Stanley Trading Vets Build Startup to Unite Crypto Market Price Ranges
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Nasdaq, Morgan Stanley Trading Vets Build Startup to Unite Crypto Market Price Ranges

14 Feb Nasdaq, Morgan Stanley Trading Vets Build Startup to Unite Crypto Market Price Ranges

Posted at 12:34h in Cryptocurrency News by

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A group of trading vets from NASDAQ, Visa and Morgan Stanley say they’ve built a liquidity solution for the world’s disparate cryptocurrency markets. 

After 18 months of development, their project, Apifiny, came out of stealth Wednesday with a new platform targeting exchanges hampered by low liquidity: ExOne. It is an emerging finances back-end tool tied to technological advances in traditional markets, which, despite their off-chain standing, have myriad advantages over crypto exchanges.

“These marketplaces are highly fragmented and remarkably inefficient,” said Co-Chairman David Wield, a former vice chair of NASDAQ. “If an investor goes to one marketplace the bid that he sees in that one marketplace may be wildly different than it is in another venue.”

Bid discrepancies can be a turn-off for investors used to accessing relatively stable quotes from a consolidated marketplace, Weild said . Bitcoin and other cryptocurrencies have no such price coherence; real-time bids can…

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