Nasdaq, the American stock exchange, is set to launch its crypto custody services by the end of Q2 2023.
The move is aimed at capitalizing on the increasing demand for institutional service providers in the crypto market. Nasdaq’s Senior Vice President and Head of Nasdaq Digital Assets, Ira Auerbach, confirmed that the exchange is working towards getting regulatory approvals to meet its target launch date.
The exchange has also applied for a limited-purpose trust company charter from the New York Department of Financial Services.
Initially, Nasdaq will offer custody services for bitcoin and ethereum before expanding its suite of services for its digital assets division.
This move represents Nasdaq’s continued interest in the crypto market, as the exchange has previously provided market surveillance technologies to various crypto exchanges and made crypto-related investments.
