The trading in Cryptocurrencies has been an exciting affair to a majority of those who understand the business. Hundreds of investors have invested their millions in it and even though some have lost, there are those who are earning from the digital currencies. However, the hype seems to have died but according to Alex Grebnev, there is still hope for those who want to explore the trade. The former Goldman Sachs banker outlines a possibility of bringing cryptocurrency into the mainstream through the use of a new platform for digital currencies.

Moving the crypto market to the financial mainstream

With his 10years in a variety of roles in equities and derivatives structuring at Goldman Sachs, Grebnev feels ready to launch a platform for digital currencies. However, he is not working alone on this because he has partnered with the founders of Changelly, a leading instant cryptocurrency exchanges. Besides he has a deep understanding of the ins and outs of equities and derivatives structuring. Thus he is well equipped to explore the opportunity.

Grebnev has joined Merrill Lynch from where he has formed a company known as Oxygen. The company will be responsible for providing market liquidity which will in return open short positions to traders. The borrowers will be able to lend their digital currency Ethereum to the Oxygen platform in exchange for another cryptocurrency.  This will be provided as collateral till the return of the original currency.

The platform is expected to stabilize the cost of borrowing Cryptocurrencies, which will attract investors who have been running away due to falling prices. Grebnev quotes, “The cryptocurrency market is developing very fast, but it should also be developing on a professional level, with the application of real-world concepts.”

The probing of the cryptocurrency market

A report by the Wall Street Journal indicates that the Securities and Exchange Commission is not going on the cryptocurrency market. According to SEC Chairman Jay Clayton, a majority of those who are dealing with Cryptocurrencies are not complying with the required security laws.

There have been dozens of concerns regarding hacking in the mining of Cryptocurrencies. This exposes the digital currencies and the Internet of Things (IoT) to potential vulnerability. Nonetheless, the SEC is expected to curb this and protect the market.