Thomson Reuters Follows Cryptocurrency with Real-Time Rates Tracker

The launch could be a sign ‎that ‎Reuters is considering embracing the digital asset class on ‎its trading ‎platforms.

Thomson Reuters is launching a price data feed for virtual currencies, ‎dubbed “Cryptocurrency Real Time Rates,” building on the success of similar ‎benchmarks that leverage price data from a suite of crypto exchanges.‎

The new product provides institutional-grade resources and real-time ‎information for those trading in cryptocurrency markets through a ‎standardized reference rate and spot price index.‎

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The launch of the new service, which will be accessible through a ‎customized API on its flagship platform Eikon, signals Thomson ‎Reuters’ growing commitment to the nascent space. It also comes ‎at the time when mainstream interest in cryptocurrencies is ‎skyrocketing.‎

A recent Thomson Reuters study showed that 20 percent of 400 finance firms surveyed are considering getting into cryptocurrency trading within the next 12 months.

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Several cryptocurrency exchanges and trading platforms will provide pricing data for six ‎coins, including bitFlyer and BITPoint, with more exchanges to be added over time.

The launch of the Cryptocurrency Real Time Rates could be a sign ‎that Reuters is considering embracing the digital asset class on ‎its trading platforms.  ‎

The release comes on the heel of the announcement from CME Group ‎earlier today about the launch of a daily price benchmark for ‎Ethereum, in partnership with cryptocurrency trading platform ‎Crypto Facilities.‎

Commenting on the news, Michael Go, Head of FX Market ‎Development – Asia Pacific at Thomson Reuters, 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 and co-founder of bitFlyer, added: ‎‎“As the world’s largest Cryptocurrency exchange, bitFlyer has made ‎efforts to facilitate the development of cryptocurrency markets. We are ‎the first company to obtain a license to trade cryptocurrencies in ‎Japan, the US and Europe and we are delighted to be able to provide ‎valuable data to customers worldwide through Thomson Reuters.”‎

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