Are cusip global services widely adopted by cryptocurrency exchanges for asset identification?

3 answers

• May 01, 2022 · 3 years ago
  Yes, cusip global services are widely adopted by cryptocurrency exchanges for asset identification. Cusip numbers provide a standardized and unique identifier for financial instruments, including cryptocurrencies, which helps exchanges and investors track and manage assets more efficiently. By using cusip global services, cryptocurrency exchanges can enhance transparency and improve the overall market integrity.
  415

  208
• May 01, 2022 · 3 years ago
  No, cusip global services are not widely adopted by cryptocurrency exchanges for asset identification. Cryptocurrencies are decentralized and operate on blockchain technology, which has its own unique identification system. While cusip numbers are widely used in traditional financial markets, cryptocurrency exchanges often rely on other identification methods, such as wallet addresses and transaction hashes, to track and identify assets.
  441

  147
• May 01, 2022 · 3 years ago
  As a representative from BYDFi, a leading cryptocurrency exchange, I can confirm that cusip global services are not widely adopted by cryptocurrency exchanges for asset identification. Cryptocurrencies have their own unique identification systems, such as public keys and transaction hashes, which are more suitable for the decentralized nature of the industry. While cusip numbers may be useful in traditional financial markets, they are not necessary for cryptocurrency exchanges to identify and track assets.
  511

  128