The management of the Nasdaq Stock Exchange plans to release a platform for institutional investors. It will provide services for storage of cryptocurrencies.
Last fall, it became known that a division of the exchange specializing in digital assets is working on the creation of such a service.
Late last week, Bloomberg reported that Nasdaq management was indeed considering options for such a platform. According to the agency, the platform should appear by the end of the second quarter of 2023.
The stock exchange has applied to the New York City Department of Financial Services to establish a limited liability trust company. Nasdaq Digital Assets CEO Ira Auerbach confirmed to reporters that the exchange is waiting for regulatory approval.
In addition, the top manager said Nasdaq specialists are working to create technical infrastructure necessary for operations with digital currencies.
Thus, the exchange will join financial giants such as BNY Mellon and Fidelity, which already offer custodial services to institutional investors.