March 23, 2023

  • The Nasdaq is seeking to offer custody services to institutions dipping their toes into cryptocurrency.
  • The exchange has been a service provider in the market for some time, but the new move marks a fresh foray into the sector.
  • The Nasdaq’s new service would bring the company into direct competition with well-established firms such as Coinbase.

The Nasdaq U.S. stock exchange is eyeing a push into institutional custody services for bitcoin and cryptocurrency.

The move would mark a new chapter for the company that has so far chosen to not compete in a market currently dominated by the likes of Coinbase, BitGo and Gemini. Instead, the exchange has serviced these institutions with offerings such as its trading and market surveillance technologies.

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