18 September 2014

Thomson Reuters adds bitcoin pricing to Eikon

06 August 2014  |  3711 views  |  0 Bitcoin

Thomson Reuters has followed market data rival Bloomberg by adding bitcoin prices to its Eikon data service.

Thomson Reuters says bitcoin/ USD prices from the BitStamp exchange have been added to Eikon "in response to strong customer demand". It follows a move by Bloomberg to add Bitcoin pricing and market news to its Professional terminal service in April.

Despite it not being considered a currency and not legal tender in almost all jurisdictions, the growing role of crypto currencies is starting to get the full attention of market players and regulators.

While the size of the bitcoin market remains modest - with an estimated daily volume of $60-70 million - it is proving to be extremely durable.

"With online vendors such as Expedia and Dish Network accepting bitcoins as a form of payment, the bitcoin market is experiencing a surge in popularity, with many government officials beginning to recognise it as a valid means of exchange," says Thomson Reuters. "The phenomenon of crypto currencies needs to be monitored as it brings on several implications on industry assets and practices (such as payment systems and the role of the banks), but also on regulatory ground (links with anti-money laundering legislations).

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