Leading Global Currency Exchanges Chooses Ethereum Over Bitcoin
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NEX Group operates dominant electronic markets for trading in the world’s most important assets, from US Treasury bonds to currencies like the euro and the dollar. Now, the company is taking a look at cryptocurrencies—particularly ethereum and ripple.
Michael Spencer, the CEO of NEX and a fixture in London’s financial scene, is less bullish about bitcoin—the biggest and oldest of the cryptocurrencies—given some of its vulnerabilities. He thinks there’s potential instead in the next-generation of cryptocurrencies like ripple, which is issued by its namesake money-transfer company. NEX is actively discussing building transaction platforms for cryptocurrencies, although Spencer said in a conference call that he and his executives haven’t made a final decision on the matter.
It’s been an exciting year for decentralized, cryptographically-protected assets. Ethereum, for example, has helped sprout an “initial coin offering” craze that is getting ridiculous.