Nasdaq Expects to Provide Crypto Custody Next Quarter

The Nasdaq stock exchange expects a new crypto custody offering to launch next quarter according to Ira Auerbach, head of Nasdaq Digital Assets.

Interviewed in Paris, according to Bloomberg, Auerbach said they are pushing ahead to get all the necessary technical infrastructure and regulatory approvals in place after applying to the New York Department of Financial Services for a limited-purpose trust company charter.

This would make them one of very few traditional financial entities to provide crypto custody, including Fidelity and BNY Mallone.

There are also a number of crypto entities that provide custody, like Coinbase Global (COIN), BitGo, and Gemini.

These crypto entities have had years and years of experience in securing crypto assets without any problems for a decade or so in the case of Coinbase and BitGo.

Nasdaq would start afresh, but presumably they hope their global brand would give them more credence, at least with the traditional financial market.

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• Source: https://www.trustnodes.com/2023/03/24/nasdaq-expects-to-provide-crypto-custody-next-quarter