The parent company of a major US stock exchange is reportedly looking to launch crypto custody services by June.
According to a new report from BNB Bloomberg, Nasdaq INC., the New York-based owner of the Nasdaq Stock Exchange, expects its crypto custody services to be available by the end of the second quarter.
Ira Auerbach, a director at Nasdaq Digital Assets, told Bloomberg in an interview that the company is currently in the process of acquiring regulatory consent and the necessary infrastructure for its launch.
Auerbach also says that offering custody of Bitcoin (BTC) and Ethereum (ETH), the top two digital assets by market capitalization, would be the company’s first step toward creating a suite of cryptocurrency-focused services.
Nasdaq first announced that they would look to launch crypto custody services last September, saying at the time that institutional adoption of digital assets would fuel the “next wave of revolution.”
In October, Tai Cohen, Nasdaq’s executive vice president and head of North American markets, said the company also plans to expand the crypto services they offer, such as providing liquidity, as well as adopt regulations.
“Custody is essential. From custody, we can start to develop other solutions, offer execution services, liquidity services and think about how we support new markets…
We know how to operate under regulatory regimes, and we continue to innovate under the rules of the road. Embracing regulation as it comes is something we do. And the institutions want us to operate under that framework.”
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