Intercontinental Exchange, which owns the New York Stock Exchange, is opening a new cryptocurrency management company, according to the Verge.
Why it's important: The new society, Bakkt, could give some legitimacy to the cryptocurrency, which was "spoiled by fakes and even price-manipulation reports," according to The Verge. The Swiss investment bank UBS has published a report concluding that the price of a single currency should be around $ 213,000 for Bitcoin to be profitable as a reserve currency;
The details: The company will "maintain and manage people's cryptocurrency" and will be managed by Microsoft cloud tech, for the Verge.
Successive projects: Bakkt plans to "start offering services in November" and will announce further details in the coming weeks.
Go deeper: Cryptocurrency markets are struggling with insider trading.
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