Nasdaq to offer cryptocurrency storage services

Leading stock exchange Nasdaq Inc. may take another step towards the cryptocurrency sector by launching custodial services by the end of the second quarter of this year.

Ira Auerbach, senior vice president and head of Nasdaq Digital Assets, said in a recent interview that the global exchange group is looking to obtain all the necessary permits and build the technical infrastructure for the platform in the coming months.

If everything goes according to plan, Nasdaq could start offering cryptocurrency storage services by mid-2023.

Other well-known names in the financial sector that are already acting as cryptocurrency depositories include America’s oldest bank, BNY Mellon, and brokerage giant Fidelity Investments.

«The technology behind the digital asset ecosystem has the potential to change markets in the long run. To realize this opportunity, we will focus on providing institutional-grade solutions that provide greater liquidity, integrity and transparency to support the evolution,» said Nasdaq President Adena Friedman.