Data company Thomson Reuters has announced a new cryptocurrency tracker, providing access to real-time price information for six leading cryptocurrencies.
The crypto data feed, to be known as ‘Cryptocurrency Real Time Rates,’ draws price information from a basket of leading cryptocurrency exchanges including BITpoint and bitFlyer. Its aim is to provide traders with an accurate reflection of market prices in real time. Reuters did not identify which cryptocurrencies it will track, although it has been previously reported that the data company’s news and media division, Reuters, has already added Bitcoin Cash to its cryptocurrency feed. Another news service agency, Bloomberg, which previously only tracked BTC, also included Bitcoin Cash along with Ripple to its feed.
The development comes at a time of increasing institutional interest in the space, with as many as 20% of financial institutions polled telling Reuters they intend to begin their own cryptocurrency trading later this year.
The news comes only a matter of hours after a similar announcement from CME Group, which said it would now be working in partnership with Crypto Facilities to calculate ETH price benchmarks on a daily basis.
Michael Go, of Thomson Reuters, said the data feed reflects the growing momentum behind trading in cryptocurrencies as an asset class. In a statement, Go said, “The immense growth in the cryptocurrency market in the last decade highlights the strong momentum around this new technology and tradable asset class. Thomson Reuters Cryptocurrency Real Time Rates enhances our rate offering and helps create a transparent and efficient global marketplace, vital to the future stability of cryptocurrency trading to support the investor.”
Yuzo Kano, CEO of bitFlyer, said the partnership with Thomson Reuters was another first for the company, and would help provide traders and financial institutions worldwide with the real-time data they need for effective cryptocurrency investment.
The developments come at a time of increasing speculation around Thomson Reuters in the cryptocurrency space, with some suggesting they could be poised to include cryptocurrency trading in their own trading platform in the near future.
With reach currently spanning over 100 different countries, any such move would be a significant development in the profile of cryptocurrency trading worldwide, and likely an important step towards more institutional involvement in crypto markets.
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