Nasdaq will focus on storing cryptocurrency.
Before announcing plans to establish its cryptocurrency exchange, Nasdaq Inc. will probably hold off until there is more clarification around the regulation and institutional adoption of such exchanges. Tal Cohen, the organization’s senior vice president and director of North American markets, said this.
The market is quite saturated in retail.
The business will keep concentrating on its custody services for cryptocurrencies, which, according to Cohen, are essential to consumers and have a lot of demand and opportunity.
We believe that if you can securely keep people’s belongings, they will have more confidence in you in all other areas.
Nasdaq will aim to increase its execution capabilities in addition to providing custodial services to make it easier to move and transfer assets.
The second-largest stock exchange in the world declared last month that institutional investors would be able to use its custody services for bitcoin and ether.