• Disclaimer
  • Privacy Policy
Media Coverage
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact
No Result
View All Result
Media Coverage
No Result
View All Result
Home Market coverage

Nasdaq to Launch Digital Asset Custody Service by Mid-2023

Gabriel Bello Obando by Gabriel Bello Obando
March 30, 2023
in Market coverage
0
Stock Broker
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Nasdaq, the world’s second-largest stock exchange, has announced its plans to enter the digital asset custody market by mid-2023. This move comes as more financial institutions explore digital asset products and services and other prominent players in the digital asset industry have collapsed. Nasdaq’s entry into the market is expected to boost institutional interest in digital assets and provide a reliable and secure custody solution for BTC and ETH.

To launch its digital asset custody service, Nasdaq has applied for a limited-purpose trust company charter for the new business. It is seeking licenses from regulators, including the New York Department of Financial Services. The exchange intends to offer custody services for BTC and ETH initially but plans to expand its services, including trade execution for financial institutions.

Digital asset custody is an essential service in cryptocurrency, as it provides a secure way for investors to store and manage their digital assets. Custodians like Nasdaq hold the private keys to investors’ digital assets and are responsible for safeguarding them against theft or loss.

Nasdaq’s foray into the digital asset custody market is a significant step for the industry as it signals the mainstream adoption of cryptocurrencies by traditional financial institutions. With its trusted reputation, Nasdaq’s entry into the market is expected to give institutional investors the confidence they need to invest in digital assets.

However, the launch of Nasdaq’s digital asset custody service is pending approval from American state and federal regulators. While the company has applied for the necessary licenses, it is still subject to regulatory approval before officially launching its services.

In conclusion, Nasdaq’s entry into the digital asset custody market is a positive development for the cryptocurrency industry. It provides a much-needed reliable and secure custody solution for BTC and ETH and signals mainstream adoption of cryptocurrencies by traditional financial institutions. While the launch is still pending regulatory approval, the industry eagerly anticipates Nasdaq’s entry into the market in mid-2023.

The decision by Nasdaq to enter the digital asset custody market comes at a time when the adoption of cryptocurrencies is increasing rapidly. Institutional investors, such as hedge funds and investment banks, are beginning to show interest in cryptocurrencies as a viable asset class and are looking for secure and reliable ways to invest in them. This has led to a surge in demand for digital asset custody services, and Nasdaq’s entry into the market is expected to help meet that demand.

Nasdaq’s move into the digital asset custody market is also significant because it comes at a time when other major players in the industry have collapsed. In recent years, several high-profile digital asset exchanges and custodians have suffered from hacking attacks, regulatory scrutiny, and financial difficulties. This has led to a lack of trust and confidence in the industry and has made investors wary of investing in digital assets.

However, Nasdaq’s reputation as a trusted and reliable exchange is expected to change the narrative. The business has a long history of providing reliable and secure trading and clearing services and has built a reputation for itself as one of the most trusted exchanges in the world. This reputation is expected to carry over to its digital asset custody services and provide investors with the confidence they need to invest in digital assets.

While Nasdaq’s entry into the digital asset custody market is a positive development for the industry, it also highlights the need for the proper regulation. With the increasing adoption of cryptocurrencies, there is a growing need for regulatory oversight to ensure that investors are protected and that the industry operates fairly and transparently.

Overall, Nasdaq’s entry into the digital asset custody market is a significant development for the cryptocurrency industry. It provides institutional investors with a reliable and secure way to invest in digital assets and signals mainstream adoption of cryptocurrencies by traditional financial institutions. With Nasdaq’s reputation and expertise, the industry is poised to take a significant step forward regarding reliability and trustworthiness.

Tags: NASDAQ
Previous Post

Investigating Whether iHeartMedia, Inc. Complied with Federal Securities Laws

Next Post

The Importance of Communication in Real Estate: Laura Vallis Appointed as Head of Communications at JLL

Next Post
Bull vs Bear Stock Market

The Importance of Communication in Real Estate: Laura Vallis Appointed as Head of Communications at JLL

Wealth

Sugarhill Ddot’s Net Worth: Inside The Career of the Rising Drill Rap Star

by Gabriel Bello Obando
November 10, 2023
0

When it comes to the hip-hop scene in America, there are a few names that stand out. However, one name...

Read more

From Telenovelas to Hollywood: Exploring Kate del Castillo Net Worth and Career Achievements

June 1, 2023

Adamari López Net Worth: An Inspirational Tale of Resilience Beyond The Screen

June 1, 2023

Simon Helberg Net Worth: A Multi-Talented Hollywood Star

June 1, 2023

Sam Bailey Net Worth: Her Journey to Fame and Musical Career

June 1, 2023

Categories

  • Analyst Ratings
  • Business
  • Business news
  • Market coverage
  • Pre-IPO & Startups
  • Stock Markets
  • Wealth
  • World Economy

About Us

Our team of experienced journalists and industry experts is committed to providing you with the latest and most accurate information on a wide range of topics, from finance and technology to politics and the economy.

We are proud to be part of the Best Stocks team and to offer our readers exceptional content that is informed by our combined expertise. We look forward to continuing to serve our readers and to playing a key role in the world of business analysis and reporting.

READ MORE

  • Media Contacts
  • Journalist Contacts
  • Contact
  • About us
  • Disclaimer
  • Privacy Policy

© 2023 Media Coverage

No Result
View All Result
  • Analyst Ratings
  • Market coverage
  • Business news
  • Wealth
  • Stock Markets
  • World Economy
  • About Us
    • About us
    • Contact

© 2023 Media Coverage