Crypto Boom: NASDAQ Prepares Institutional Crypto Custody Service

Crypto Boom: NASDAQ Prepares Institutional Crypto Custody Service

The mass adoption of digital assets continues despite the massive market volatility. There have been a lot of moves made in this direction, and they seem to continue.

Check out the latest reports involving NASDAQ below.

NASDAQ and crypto plans

The second-largest stock exchange in the world is getting ready to offer crypto custody services to institutional investors.

According to a new report by Bloomberg, Nasdaq, the world-famous New York-based stock exchange, is going to offer Bitcoin (BTC) and Ethereum (ETH) to blue-chip investors. The important entity also has plans to expand.

The report said that NASDAQ has hired Ira Auerbach, a former executive of crypto exchange Gemini, as head of the new Nasdaq Digital Assets unit.

Auerbach stated the following:

“We believe this next wave of the revolution is going to be driven by mass institutional adoption. I can think of no better place to bring that trust and brand to the market than Nasdaq.”

This move would put NASDAQ in direct competition with important crypto firms, such as leading US-based digital assets exchange Coinbase.

Tai Cohen, the executive vice president and head of North American markets, said the fact that the company has plans to expand the crypto-related services they offer.

“Custody is foundational. Off the back of custody, we can start to develop other solutions, offer execution services, liquidity services, and think about how we support new markets.”

Check out the latest reports about the moves that NASDAQ is making in the original article posted by the online publication the Daily Hodl. 

BTC and politics addressed by Willy Woo

In other news, Willy Woo has recently said in a thread that with futures contracts, it’s now theoretically possible to sell an “unlimited” number of Bitcoin even though BTC’s supply is capped at 21 million.

As the online publication the Daily Hodl notes, the door is open for futures markets to control BTC price.




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