inventory alternate Nasdaq plans to enter the custodial services segment cryptocurrencies for institutional buyers, in accordance to a number of folks briefed by the firm.
NasdaqActed as a supplier quite than a newcomer to the cryptocurrency market buying and selling US and world shares. expertise to monitor the market cryptocurrency exchanges From 2018.
In February 2021, the inventory alternate introduced the launch of the Hashdex Nasdaq Crypto Index alternate-traded fund (ETF), primarily based on the index itself.
Historically, Nasdaq chooses to present expertise to cryptocurrency market members as a substitute of managing the market to compete with different corporations comparable to Coinbase (COIN) and FTX.
Nasdaq Digital Assets is coming
new supply Nasdaq It is awaiting regulatory approval, in accordance to considered one of the sources. The alternate can be making a new crypto-focused division alongside with its exploration into the cryptocurrency storage segment – Nasdaq Digital Assets.
In an announcement, the inventory alternate expressed its ambition to launch the facility Nasdaq to facilitate and assist enhance institutional engagement in digital property by offering strong institutional-degree options aimed toward higher storage, liquidity and integrity”.
The new division will likely be headed by the firm’s senior vice chairman, Ira Auerbach. Nasdaq After engaged on the Gemini crypto alternate.
“Nasdaq Digital Assets builds on the profitable options we’ve applied lately to serve the digital asset ecosystem, together with digital asset brokerage market expertise, crypto-real choices in opposition to monetary crimes, and cryptographic options index for traded merchandise. Chief Executive Officer provides NasdaqAdena Friedman, in a press launch.
Custody is a profitable however aggressive segment of the cryptocurrency market, with institutional custody suppliers commanding billions.
Crypto pockets and custodial agency Ledger raised $1.5 billion in June 2021, and Anchorage closed a $350 million funding spherical in December 2021 that valued it at $3 billion.
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