Are you ready for some exciting news? According to an article on fortune.com, Nasdaq plans to launch custody services for Bitcoin and Ether by the end of Q2 2023. The move comes after several major players were forced to collapse due to market downturns. Nasdaq’s custody services will further entrench traditional financial firms in the crypto sector.
This is a huge development for the crypto industry, as it shows that Nasdaq, one of the world’s largest stock exchanges, is taking digital assets seriously. By offering custody services, Nasdaq will provide a secure and regulated way for institutional investors to store and manage their crypto holdings. This could boost confidence and demand for crypto, as well as pave the way for more innovation and adoption.
Nasdaq’s crypto custody platform will initially focus on Bitcoin and Ether, the two most popular and valuable cryptocurrencies. However, the company plans to expand its offerings in the future, including execution services for financial institutions. This could create more opportunities for traders and investors to access and benefit from the crypto market.
Nasdaq’s entry into the crypto space is a sign of the times, as more and more traditional finance institutions are embracing digital assets. This could lead to more integration and collaboration between the crypto and TradFi sectors, as well as more growth and innovation for both. Stay tuned for more updates on this exciting story!