The owner of the major US exchange will launch Crypto Custody Services by June: Report
The parent company of a major US exchange is reportedly looking to launch crypto custody services by June.
According to a new report from BNB Bloomberg, Nasdaq INC., the owner of the New York-based Nasdaq stock exchange, expects its crypto custody services to be available by the end of the second quarter.
Ira Auerbach, head of Nasdaq Digital Assets, told Bloomberg in an interview that the firm is currently in the process of obtaining the regulatory approval and necessary infrastructure it needs to launch.
Auerbach also says that offering custody for Bitcoin (BTC) and Ethereum (ETH), the top two digital assets by market capitalization, would be the company’s first step toward building a suite of crypto-focused services.
Nasdaq first announced it would look to launch crypto custody services last September, saying at the time that institutional use of digital assets would drive the “next revolutionary wave”.
In October, Tai Cohen, Nasdaq’s executive vice president and head of North American markets, said the firm also plans to expand the crypto services it offers, such as offering liquidity, as well as embracing regulations.
“Storage is fundamental. On the back of custody, we can start to develop other solutions, offer execution services, liquidity services and think about how we support new markets…
We know how to operate under regulatory regimes and we continue to innovate under the rules of the road. Embracing regulation when it comes is something we do. And institutions want us to operate under that framework.”
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