Thomson Reuters To Launch A Cryptocurrency Real Time Rates Data Feed

Thomson Reuters Corporation, a Canadian multinational mass media, and information firm have recently published a cryptocurrency real-time rates data feed. This new imitative will come up with reliable, real-time information for up to six digital coins across top cryptocurrency exchanges. The purpose for setting this data fed up is to encourage efficiency and transparency for cryptocurrency investors within the global market.

The new Cryptocurrency Real-Time Rates are already available through a customized API interface on Thomson Reuters Eikon platform. As stated by Reuters, the application is providing trading data from various crypto exchanges including Bitflyer and Bitpoint. It also added that more trading platforms will be added in the future. The firm decides to launch this data feed after they discovered in a recent survey that cryptocurrency trading by financial companies will most likely rise this year. The survey revealed that up to 20 percent of 400 finance companies that took part in the survey are taking entering trading cryptocurrency assets into consideration for the next 12 months. That means that just one in every five business companies will establish direct contact with cryptocurrencies this year.

However, the pricing data for the real-time rates will amount to up to six cryptocurrencies. Now that Reuters is launching this service, this could mean that they are finally embracing the digital asset class on its own trading platforms. This past December, the media outlet added Bitcoin cash to its Eikon platform and that was the third cryptocurrency to be included into its platform after Bitcoin core and Ethereum.

Head of FX Market Development for the Asia Pacific at Thomson Reuters, Michael Go says the immense growth in the cryptocurrency market in the last decade highlights the strong momentum around the new technology and the tradable asset class. He also added that 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, the CEO, and co-founder of the trading platform notes “As the world’s largest cryptocurrency exchange, Bitflyer has made efforts to facilitate the development of cryptocurrency markets. He noted that Bitflyer is the first company to obtain a license to trade cryptocurrencies in Japan, the US, and Europe.” He ended his statement by saying “We are delighted to be able to provide valuable data to customers worldwide through Thomson Reuters.”