Bitcoin

Ethereum

<ul><li>TradFi giants such as Nasdaq, Fidelity, BNY Mellon, and BlackRock have started offering crypto services.</li><li>The exchange plans to launch its crypto business with custody services for Bitcoin and Ethereum.</li></ul><h2 id="header-0">Nasdaq’s Crypto Move</h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/113c5c904a21466c8dd1333d7f5db8ee.jpg" />The Nasdaq Stock Exchange in New York plans to offer crypto custody services by the end of the second quarter, according to Bloomberg.The exchange plans to launch its digital asset business with custody services for the two highest market cap cryptocurrencies, Bitcoin and Ethereum.Reports suggest that Nasdaq is working with the New York Department of Financial Services to obtain a limited-purpose trust company charter for its new crypto division.Last September, the exchange announced plans to establish its digital asset business and has been steadily working on it since then.Ira Auerbach, Senior Vice President of Digital Assets at Nasdaq, said the exchange is working to establish a robust infrastructure and obtain necessary regulatory approvals to serve its crypto clients.Auerbach noted that custody is the first step in establishing a broad range of digital asset services. He also said that as the crypto division grows, it will offer execution services to financial institutions.<h3 id="tradfi-institutions-finally-entering-the-crypto-segment">TradFi institutions finally entering the crypto segment</h3>Nasdaq is not the first traditional financial (TradFi) institution to enter the crypto segment after years of speculation. Fidelity Investments, BNY Mellon, and BlackRock have been offering crypto services for a long time.BNY Mellon, a New York-based banking institution, launched its institutional crypto custody services in 2022 and is steadily expanding its digital asset division.Fidelity, a Boston-based financial services company, now offers crypto trading and custody services to retail customers and is filling the gap left by traditional banks such as Silvergate that failed to serve the crypto industry.Investment firm BlackRock, which manages assets of over $10 trillion, also entered the crypto market this month, with CEO Larry Fink praising digital assets in his annual letter to investors.-&gt; <a href="https://en.coinotag.com/" rel="noopener noreferrer nofollow">go to en.coinotag.com</a>

Nasdaq plans to launch cryptocurrency custody services by the end of Q2.

Table of Contents

CO NEWS

Other articles published on Mar 25, 2023

Fabwelt Studios partners with Nautilus Chain

Will Bitcoin Gain Bullish Momentum Again?

UAE Unveiled its CBDC Strategy for the Digital Dirham

Shibarium Releases Long-Awaited Documentation for Its Ethereum DEX

ZkSync Introduces Era Public Mainnet

Bitcoin Faces Liquidity Squeeze as US Banking System Falters

Join our free newsletter for daily crypto updates!