In another big move for the cryptocurrency space, the New York Stock Exchange (NYSE) has announced a strategic partnership with leading crypto exchange Crypto.com to launch “The First Trade,” an initiative that would unveil non-fungible tokens (NFTs) to celebrate six stocks listed on the famous exchange.
Announcing the new NFT initiative via an official blog post, Crypto.com disclosed that the New York Stock Exchange (NYSE) had minted a series of NFTs collectibles for some noteworthy listings: Spotify, Unity, Snowflake, Roblox, DoorDash, and Coupang.
We’re proud to partner with @NYSE to present The First Trade: a series of #NFTs commemorating the 1st public trades of some of the most innovative companies in the world, including @Spotify, @DoorDash, @Roblox, and more!https://t.co/t3ln8hwjbe pic.twitter.com/oMiYc1goOV
— Crypto.com (@cryptocom) April 13, 2021
The New York Stock Exchange is the world’s largest stock exchange in regards to its listed companies’ market cap. The NYSE noted in its statement that “The First Trade” was launched as a means to celebrate its listed companies.
Stacey Cunningham, President of the NYSE, expressed her delight with the launch of the NYSE non-fungible tokens. She said it was a new avenue for the exchange to mark the instant a firm joins the NYSE.
“Our first class of NYSE NFTs celebrates the First Trades of these notable listings: Spotify, which executed the first ever Direct Listing, Snowflake, Unity, DoorDash, Roblox and Coupang, the largest U.S. IPO so far this year!” she noted.
The initial set of “The First Trade” series of NFTs numbers six. However, Cunningham noted that more listed companies will be unveiled shortly.
Crypto.com, Finxflo Partner Over Liquidity
In another development, Singapore-based liquidity aggregator Finxflo has tapped Crypto.com as its first liquidity provider.
According to the press release, as a result of the partnership, Crypto.com will act as Finxflo’s first liquidity provider, enabling the exchange to increase its transaction volume and alleviate market volatility.
James Gillingham, Finxflo CEO, while addressing the partnership, said the collaboration with Crypto.com would help eradicate the obstacles connected with crypto trading as well as streamline the experience for new retail investors.
“As we continue to deepen our liquidity, we can provide the best possible price levels across liquidity pools for the institutional investors to price-sensitive retail traders,” he added.
Crypto.com Coin’s (CRO) price has rallied by 6.1% in the last 24 hours at the time of publication. The token was trading at $0.252270, with a market cap of $6,366,288,714 and a 24-hour trading volume of $402,561,266. Also, CRO currently has a circulating supply of 25.2 billion coins.
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