Bitcoin, and the wider crypto industry, took a big step forward to mainstream acceptance this week when the owners of the New York Stock Exchange announced they had acquired a crypto custodian service called Digital Asset Custody Company. Atlanta-based Intercontinental Exchange (ICE), which owns the NYSE, also applied for its cryptocurrency subsidiary—known as Bakkt—to become a registered trust with the state of New York.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
