Nasdaq (NDAQ), the world's second largest stock exchange in the world, recently announced that it offered a deal to the Swedish provider of crypto trading solutions Cinnober. The exchange will buy Swedes for $ 190 million – with cash settlement.
Nasdaq launches public offer to acquire Cinnober: https://t.co/R03TXjpKGH
Nasdaq Tech (@NasdaqTech) September 14, 2018
The purchase of Cinnober will bring the exchange and holders of its shares a fairly large profit. The site will also receive a package of new technologies for internal operations and external products. Cinnober provides solutions for asset trading and clearing throughout the entire transaction chain, including pricing and market services.
Prior to this, the Swedes entered into a partnership with BitGo, which deals with crypto security. That is, Cinnober products and its custodians are well protected, and institutional investors can worry less about the security of their digital assets.
Co-Founder of Cinnober Niels-Robert Persson believes that the proposal is beneficial to both companies, and intends to accept the offer.
"I see opportunities for the company's development, as talented Cinnober employees will become even more successful in working with clients. There will be an expansion of markets for technology, and we will be able to offer more products to more consumers. I believe in the strategic logic of combining Cinnober and Nasdaq. "
The news of the acquisition was followed by a closed meeting of Nasdaq representatives with experts of crypto-space. At the meeting, participants discussed the legitimization of crypto-assets as a traditional security. Not so long ago we wrote that Nasdaq added tools for analyzing virtual coins in its Analytics Hub analytical service.
With such a transaction, institutional investors of Nasdaq will receive modern and secure technologies for crypto trading. In this way, a further step towards mass adoption of digital assets will be made. And what do you think about this?
