Five months after launching its digital asset services division, the major securities exchange, Nasdaq, now plans to launch its cryptocurrency custody services by the end of the second quarter of this year. Bloomberg reports that the Wall Street giant has applied for a limited purpose trust company charter with the New York financial services regulator.
Ira Auerbach, head of Nasdaq Digital Assets, told the outlet in Paris that the exchange group will ensure that it obtains all necessary regulatory approvals as well as installing the required technical infrastructure. The launch of the custodial services will be the exchange operator’s first major venture into the crypto industry.
Nasdaq first announced plans to diversify into the digital asset industry in September last year, noting that it planned to launch crypto services for institutions. finance tycoons reports that the trading platform said it has immediate plans to launch crypto trading services. The Nasdaq had said the decision would be finalized based on the regulatory landscape and industry competition. However, Auerbach in a new interview said Bloomberg the company will expand its suite of additional offerings to include services such as execution
Execution
Execution is the process in which a client submits an order to the brokerage, which consequently executes it, resulting in an open position in a given asset. The execution of the command takes place only when it is fulfilled. There is usually a delay between order placement and execution which is called latency. In the retail FX space, reliable brokers always strive to provide the best execution to their clients in order to maintain a strong business relationship with them. It’s a co
Execution is the process in which a client submits an order to the brokerage, which consequently executes it, resulting in an open position in a given asset. The execution of the command takes place only when it is fulfilled. There is usually a delay between order placement and execution which is called latency. In the retail FX space, reliable brokers always strive to provide the best execution to their clients in order to maintain a strong business relationship with them. It’s a co
Read this term.
Already, the Nasdaq provides marketplace technology for digital asset exchanges, crypto-native financial crime-fighting offerings, and crypto-related index solutions for tradable products. However, the company believes it is “well positioned to accelerate broader adoption and drive sustainable growth” in the digital asset industry.
Institutions joins the crypto race
Over the past few years, the number of Wall Street giants showing interest in the cryptocurrency industry has increased, with Nasdaq being the latest. Early last year, BNY Mellon, one of the oldest banks in the United States, announced plans to launch a crypto custody platform.
Additionally, other major US financial services companies such as Fidelity and JPMorgan are directly or indirectly involved in crypto businesses.
Meanwhile, a recent study by Eurex, one of the world’s largest derivatives exchanges, found that institutional investors want to stay loyal to the digital asset industry despite a chaotic 2022.
Five months after launching its digital asset services division, the major securities exchange, Nasdaq, now plans to launch its cryptocurrency custody services by the end of the second quarter of this year. Bloomberg reports that the Wall Street giant has applied for a limited purpose trust company charter with the New York financial services regulator.
Ira Auerbach, head of Nasdaq Digital Assets, told the outlet in Paris that the exchange group will ensure that it obtains all necessary regulatory approvals as well as installing the required technical infrastructure. The launch of the custodial services will be the exchange operator’s first major venture into the crypto industry.
Nasdaq first announced plans to diversify into the digital asset industry in September last year, noting that it planned to launch crypto services for institutions. finance tycoons reports that the trading platform said it has immediate plans to launch crypto trading services. The Nasdaq had said the decision would be finalized based on the regulatory landscape and industry competition. However, Auerbach in a new interview said Bloomberg the company will expand its suite of additional offerings to include services such as execution
Execution
Execution is the process in which a client submits an order to the brokerage, which consequently executes it, resulting in an open position in a given asset. The execution of the command takes place only when it is executed. There is usually a delay between order placement and execution which is called latency. In the retail FX space, reliable brokers always strive to provide the best execution to their clients in order to maintain a strong business relationship with them. It’s a co
Execution is the process in which a client submits an order to the brokerage, which consequently executes it, resulting in an open position in a given asset. The execution of the command takes place only when it is executed. There is usually a delay between order placement and execution which is called latency. In the retail FX space, reliable brokers always strive to provide the best execution to their clients in order to maintain a strong business relationship with them. It’s a co
Read this term.
Already, the Nasdaq provides marketplace technology for digital asset exchanges, crypto-native financial crime-fighting offerings, and crypto-related index solutions for tradable products. However, the company believes it is “well positioned to accelerate broader adoption and drive sustainable growth” in the digital asset industry.
Institutions joins the crypto race
Over the past few years, the number of Wall Street giants showing interest in the cryptocurrency industry has increased, with Nasdaq being the latest. Early last year, BNY Mellon, one of the oldest banks in the United States, announced plans to launch a crypto custody platform.
Additionally, other major US financial services companies such as Fidelity and JPMorgan are directly or indirectly involved in crypto businesses.
Meanwhile, a recent study by Eurex, one of the world’s largest derivatives exchanges, found that institutional investors want to stay loyal to the digital asset industry despite a chaotic 2022.
