- The Nasdaq is looking for to supply custody companies to establishments dipping their toes into cryptocurrency.
- The change has been a service supplier out there for a while, however the brand new transfer marks a recent foray into the sector.
- The Nasdaq’s new service would carry the corporate into direct competitors with well-established corporations resembling Coinbase.
The Nasdaq U.S. inventory change is eyeing a push into institutional custody companies for bitcoin and cryptocurrency.
The transfer would mark a brand new chapter for the corporate that has to this point chosen to not compete in a market at the moment dominated by the likes of Coinbase, BitGo and Gemini. As an alternative, the change has serviced these establishments with choices resembling its buying and selling and market surveillance applied sciences.
In 2021, the change launched a digital belongings curriculum for monetary advisors in a partnership with asset supervisor Hashdex. The course sought to “present informative and academic sources for monetary advisors on the evolution of the digital asset ecosystem, investing concerns, regulation, taxes and extra,” its announcement stated.
Extra lately, the Nasdaq partnered with Brazil’s largest brokerage agency, XP, for the launch of a bitcoin and cryptocurrency change within the South American nation.
Nasdaq’s new institutional custody providing is pending regulatory approval, a supply with data of the plans informed The Block.