Nasdaq Readies To Launch Crypto Custody

Nasdaq Inc. (NDAQ) is getting close to launching its crypto custody business in the second quarter of the year, Bloomberg reported Friday.

Key Takeaways

Nasdaq readies the launch of crypto custody by end of the second quarterThe exchange announced digital assets business last yearTraditional financial institutions like BNY Mellon and Fidelity also offer crypto custody

Nasdaq announced its foray into the digital assets business in September and will join traditional financial institutions such as Fidelity and BNY Mellon in offering crypto custody.

The new digital offering will be headed by Ira Auerbach, who joins the company from Gemini, which was caught in the crosshairs of the FTX collapse. Auerbach was the Global Head of Gemini Prime, which was the company’s prime brokerage service.

The timing of Nasdaq’s crypto custody launch could prove to be interesting. The U.S. Securities and…

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