Nasdaq To Offer Crypto Custody for Bitcoin, Ethereum

Nasdaq To Offer Crypto Custody for Bitcoin, Ethereum
  • Nasdaq is planning to launch crypto custody services for BTC and ETH initially.
  • The stock exchange is not planning to launch its own crypto exchange anytime soon.
  • However, Nasdaq expressed its willingness to partner with crypto firms.

Nasdaq revealed that it is planning to launch crypto custody services for Bitcoin (BTC) and Ethereum (ETH). In fact, the stock exchange juggernaut has hired one former executive from US-based crypto exchange Gemini in preparation for the said task.

Read CRYPTONEWSLAND on Google News google news

According to an article by Bloomberg, Nasdaq has already onboarded Ira Auerbach, who was the Global Head of Gemini Prime. Now, Auerbach is Nasdaq’s Senior Vice President and Head of Digital Assets.

The crypto custody services will not be available for just anyone, however, since Tal Cohen, Nasdaq’s Executive Vice President and Head of North America, said that they will be offering the services to institutional investors. This is in contrast to regular crypto exchanges that offer their services to just about anyone.

When asked whether Nasdaq will launch its own crypto exchange, the company said that it has no plans at the moment. However, Nasdaq expressed its openness to the idea of partnering with crypto firms. Additionally, the stock exchange even said it is willing to join mergers and acquisitions (M&As) in the future.

At the moment, the news appears to have minimal effects on the crypto market, as BTC is still trading at $19,211.25, according to CoinGecko. Meanwhile, ETH is changing hands at $1,356.86, which translates to a 24-hour gain of 3.4%. As a whole, the greater crypto market’s capitalization is less than $1 trillion.

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

retik-new-banner-hor

related posts