A leading financial and commodity market data provider has signed a deal to provide data on digital currencies such as bitcoin.
Tullett Prebon Information, which provides investors with real-time pricing information from global markets, announced Brave New Coin, a digital currency data provider, on Monday.
The deal will allow Tullett Prebon Information to provide comprehensive pricing data on more than 50 digital currencies, including bitcoin, to its customers, as well as their rates when traded against traditional currencies.
While a lot of data on the prices of digital currencies is already freely available on several different websites, the deal should provide investors with credible, reliable data on crypto currencies.
"We are starting to see more acceptance of crypto currencies, with companies such as Microsoft and Amazon accepting them as payment and we know our customers want to see a consolidated view of the market," said Andrew Reeve, head of Asia Pacific, Middle East and Africa at Tullett Prebon Information, in a press release.
"We are excited to be working with Brave New Coin to provide much-needed transparency, especially in light of current market volatility. This underlines our ability to stay ahead of the pack, providing intelligence on the markets of the future, now."
Crypto currencies are a revolutionary tool and will open up new business models, according to Charles Hayter, CEO and founder of Crypto Compare, which provides free data services on digital currencies and is a competitor to Brave New Coin.
"The exponential growth in the ecosystem is attracting investors as lucrative trading opportunities exist. Data is the key to unlocking value in this nascent space and a key ingredient to legitimizing it," Hayter told CNBC via email.
"Digital currency is going through a transformative phase that will edge it closer to the mainstream with interest from corporates and governments alike driving the shift."
On Tuesday, the price of bitcoin (the most well-known crypto currency) stood at $732 per coin. Bitcoin's value is highly volatile, but in the past 12 months has risen 103 percent.
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