Nasdaq Plans to Offer Custody Services for Bitcoin and Ethereum
According to Bloomberg News on March 24, Nasdaq Stock Exchange, headquartered in New York, plans to introduce a crypto custody service by the end of the second quarter.
The exchange announced its intention to establish a digital asset business in September 2022 and has made gradual progress in setting up the department.
Nasdaq Digital Assets’ senior vice president, Ira Auerbach, explained that the exchange is working to develop a reliable infrastructure and obtain the required regulatory clearances that will enable it to serve crypto clients.
The report stated that Nasdaq is pursuing a limited-purpose trust company charter from the New York Department of Financial Services for its new unit, which will begin by offering custody services for the two largest cryptocurrencies by market capitalization: Bitcoin and Ethereum.
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Custody is the first step in the exchange’s plans to provide a wide range of digital asset services, Auerbach added.
Nasdaq is the latest traditional financial institution to enter the crypto market, joining the ranks of Fidelity Investments, BNY Mellon, and BlackRock, all of whom have recently added crypto-related services to their offerings.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
