Nasdaq plans to launch an institution-focused platform for storing cryptocurrencies by the end of the second quarter. This was stated by Ira Auerbach, Senior Vice President and Head of Nasdaq Digital Assets, as reported by Bloomberg.
Initially the exchange will focus on storing Bitcoin and Ethereum.
According to Auerbach, the initiative will mark the first step in advancing digital assets. In time, the service lineup will include trade execution.
The exchange is currently focused on deploying the technical infrastructure and obtaining regulatory licences.
In September 2022, the media reported about the formation of a Nasdaq team aimed at developing a solution for cryptocurrency custody. The platform filed an application with NYDFS for the corresponding licence.
Earlier, the regulator’s approval for the launch of the crypto custody service was obtained by BNY Mellon.
Earlier, in May 2022, the largest broker in Brazil, XP Inc., in cooperation with Nasdaq announced plans to launch a platform for trading digital assets XTAGE.