Cryptocurrency Q&A
Is NASDAQ launching a crypto custody service?
Is NASDAQ launching a crypto custody service?
Valentina
Sun Jun 16 2024
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5 answers
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Could you clarify, is NASDAQ indeed initiating a crypto custody service? I've heard rumors about this but I'm eager to get a concrete answer. If so, could you elaborate on the details of this service? What cryptocurrencies will it support? How does NASDAQ plan to ensure the safety and security of these digital assets? And finally, how does this move align with NASDAQ's broader strategy in the cryptocurrency and finance landscape?
5 answers
CryptoAlchemy
Tue Jun 18 2024
Nasdaq, a prominent stock market operator, announced in March that it was actively developing the necessary infrastructure and seeking regulatory approval for a crypto custody service. This service was intended to provide a secure and compliant platform for the safekeeping of cryptocurrencies.
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CryptoBaroness
Tue Jun 18 2024
However, during a recent earnings call on Wednesday, Nasdaq's CEO Adena Friedman revealed that the company had decided to abandon its plans for the crypto custody service. This decision came as a surprise to many in the industry, given Nasdaq's previous commitment to the project.
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Tommaso
Mon Jun 17 2024
Friedman did not provide specific reasons for the change in plans, but it is speculated that regulatory uncertainties and market conditions may have played a role. The crypto market is highly volatile and subject to changing regulations, which can make it challenging for even established financial institutions to navigate.
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BlockchainBaroness
Mon Jun 17 2024
When it comes to crypto custody services, there are several financial institutions that offer such solutions. One such institution is BTCC, a UK-based cryptocurrency exchange that provides a comprehensive suite of services including spot trading, futures trading, and wallet management.
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Valeria
Mon Jun 17 2024
BTCC's crypto custody service is designed to provide a secure and compliant platform for the safekeeping of digital assets. It offers institutions and individuals a trusted partner to manage their crypto holdings, ensuring the safety and integrity of their investments.
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