Nasdaq plans to launch cryptocurrency storage services in the second quarter of 2023
Bursa plans Nasdaq Nasdaq US, to launch storage services for crypto assets, by the end of next June.
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As reported by Bloomberg, the exchange is now working to obtain the necessary approvals from the regulatory bodies, which will allow it to provide such services, quoting the senior vice president and president of Nasdaq Digital Assets, Ira Auerbach.
The CEO said in an interview in the French capital, that Nasdaq I applied to the New York Department of Financial Services for a limited-purpose trust company license to oversee the new crypto business.
It is worth noting that the initiative was first announced last September, which marks the first foray into the cryptocurrency economy for the company (which operates the second-largest US exchange by market capitalization of shares traded).
Where Bursa will join Nasdaq To large financial companies in the cryptocurrency market, such as B BNY Mellon AndFidelityby providing cryptocurrency storage services, brokerage services or tokenization of traditional assets, to take advantage of the advantages of related technologies.
The project will start with the preservation of leading cryptocurrencies such as: Bitcoin and Ethereum, after which the range of services provided by the digital assets division of the group will be expanded, eventually to include financial institutions.
Also Read: Nasdaq Needs Regulations Before Launching a Crypto Exchange
It is noteworthy that the cryptocurrency winter, caused by falling prices, had affected banks exposed to digital assets as well, which led to the collapse of a bank. Silvergate Crypto-friendly, in addition to a bank Silicon Valley in the United States.
