Crypto Updates

Nasdaq to Launch Crypto Custody Services by End of Q2

Nasdaq to Launch Crypto Custody Services for Institutions

Five months after launching its
digital asset services division, top securities marketplace, Nasdaq, now
expects to launch its cryptocurrency custody services by the end of the second
quarter of this year. Bloomberg reports that the Wall Street giant has applied
for a limited-purpose trust company charter from the New York financial
services regulator.

Ira Auerbach, Head of Nasdaq
Digital Assets, told the outlet in Paris that the stock exchange group will
make sure to obtain all needed regulatory permits as well as put install requisite technical infrastructure. The launch of the custody services will be
the exchange operator’s first major project in the crypto industry.

Nasdaq first announced its
intention to diversify into the digital asset
in September last year, noting that it plans to launch crypto services for institutions. Finance Magnates reports that the trading venue said it does have any immediate plans to launch crypto
trading services. Nasdaq had said the decision will be finalized based on the regulatory
landscape and industry competition. However, Auerbach in a new interview told Bloomberg the company will expand its suite of offerings overtime to include services such as execution .

Already, Nasdaq provides
marketplace technology for digital asset exchanges, crypto-native
anti-financial crime offerings and crypto-related index solutions for tradable
products. However, the firm…

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