Major US exchange owner to launch crypto custody services by June: report

The parent company of a major US exchange is reportedly looking to launch crypto custody services by June.

According to a new report from BNB Bloomberg, Nasdaq INC., the owner of the New York-based Nasdaq Stock Exchange, expects its crypto custody services to be available by the end of the second quarter.

Ira Auerbach, head of Nasdaq Digital Assets, told Bloomberg in an interview that the company is currently in the process of obtaining regulatory approval and the necessary infrastructure to launch.

Auerbach also says that offering custody of Bitcoin (BTC) and Ethereum (ETH), the two largest digital assets by market cap, would be the company’s first step in building a suite of crypto-centric services.

Nasdaq first announced plans to launch crypto custody services last September, saying at the time that institutional adoption of digital assets would drive the “next wave of the 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 it offers, such as cryptocurrency trading. B. the provision of liquidity, and to introduce regulations.

“Custody is fundamental. From Custody we can start to develop other solutions, offer execution services, liquidity services and think about how to support new markets…

We know how to work under regulations and we continue to innovate under the rules of the road. Accepting regulation as it comes is something we do. And the institutions want us to work within that framework.”

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