NY Times: SecondMarket Creating a Virtual Currency Exchange
In the midst of all the news and chaos surrounding Mt. Gox Monday evening, The New York Times released an interesting bit of information with regard to SecondMarket, the company behind the Bitcoin Investment Trust. From the Times piece (bold emphasis ours): But at the same time that the news about Mt. Gox was emerging, a New York firm announced plans to create an exchange that could draw the world's largest banks into the virtual currency market for the first time. The new exchange is being put together by SecondMarket, which rose to fame a few years ago after creating a platform for....
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SecondMarket has not yet launched its institutional bitcoin exchange - it's expected later this year. However, the company has added a new page to their website for "market making" as clarified by founder and CEO Barry Silbert over Twitter: FYI, we did NOT launch a digital currency exchange today. Just added a new web page for our bitcoin "market making" https://t.co/PoeNmfN2ZS. - Barry Silbert (@barrysilbert) April 16, 2014. New York-based SecondMarket previously confirmed that it will launch a professional-level bitcoin exchange service for institutional traders (including banks, hedge....
Today, SecondMarket has revealed their "Experienced, Full Service Bitcoin Trading Services" via a newly released webpage. SecondMarket has launched their first step towards America's first fully regulated Bitcoin Exchange. Buyers and sellers now have a fully compliant source of Bitcoin trading from the fabled NYC. SecondMarket is licensed to do its business in all 50 states, as well as with the SEC and FINRA. The Bitcoin Exchange Services provided by SecondMarket are simple: Buying and Selling of BTC with a 25 BTC minimum. As PJ wrote days ago, Wall Street is coming onboard. Wherever Wall....
Barry Silbert: he's one busy businessman. From CEO of SecondMarket and the Bitcoin Investment Trust, in addition to the leader of the new Bitcoin Opportunity Corp., he's had quite a lot going on. And now we're learning via BusinessInsider that Silbert is planning to step down from his role as CEO at SecondMarket, an online illiquid asset marketplace. He's reportedly now exclusively committed to working on his bitcoin-related ventures, specifically the Bitcoin Investment Trust, which allows major investors to get involved with bitcoin in a secure manner. Silbert will still remain the....
Have a chunk of bitcoin you want to sell? SecondMarket might be willing to scoop it up from you. The company, which manages the Bitcoin Investment Trust, has set up a page on their website dedicated to the cause. SecondMarket is currently buying bitcoin. Any bitcoin holders interested in selling blocks of bitcoin can benefit from our deep knowledge base of the bitcoin markets. Here are the outlined steps to completing such a transaction, according to SecondMarket: Seller completes a New Account Profile (NAP) form. SecondMarket notifies seller of approval to trade once compliance procedures....
It would appear as if the SecondMarket online illiquid asset marketplace has opened its doors to many more investors with the opening of a full-service trading platform. Investors seeking to buy and sell in blocks of 25 BTC (over $12,000 USD at the current exchange rate) can enjoy personalized customer service and transactions that close in about one business day, according to the company's trading website. Investors looking to get involved will be required to complete a NAP (new account profile). Following approval to trade, SecondMarket will negotiate between buyers and sellers. For....