Nasdaq Inc., after scrapping its plan for a digital asset custodian service in the US in July, is now set to repurpose the technology developed for the cryptocurrency space. The stock exchange giant is now aiming to attract clients to emerging markets, specifically targeting assets like carbon. Nasdaq’s latest approach for digital assets 
Recently, in an interview with Bloomberg Television, Tal Cohen, co-president of Nasdaq, revealed the company’s new approach. Instead of pursuing the custodian business, Nasdaq plans to launch an institutional-grade end-to-end technology platform. This platform, initially planned for digital assets, will now extend its capabilities to support markets such as carbon trading. 
Despite regulatory challenges in the rapidly evolving cryptocurrency space, Nasdaq remains committed to advancing its technology to adapt crypto-related services for its clients. The decision reflects a broader trend among major financial institutions adjusting their strategies due to increased regulatory scrutiny of the US financial system with cryptocurrencies. 
Notably, Nasdaq and other financial institutions have noticed a <a href="https://news.todayq.com/london-stock-exchange-group-explores-blockchain-technology-for-traditional-asset-trading/">change in preferences among UK startups</a>, with many opting to debut on public markets in New York rather than London.&nbsp; 
Also Read: <a href="https://news.todayq.com/london-stock-exchange-searches-crypto-assets-director/">London Stock Exchange searches Crypto assets director</a> Blockchain technology beyond digital assets 
Cohen also expressed Nasdaq’s openness to collaborating with lawmakers to enhance the region’s request for such listings, highlighting concerns in Europe related to tax regimes, regulations, and market complexity. 
“In Europe, I think you’re facing structural issues around tax regimes, onerous regulations, a lot of fragmentation, complexity,” Cohen said. “We have a big franchise in Europe, we’re willing to take that call and talk to them about how we can help in Europe.” 
This strategic move by Nasdaq indicates a broader industry trend where technology initially developed for cryptocurrency ventures is finding applications in other burgeoning markets, showcasing the adaptability and potential of blockchain-based solutions beyond digital assets. 
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