Nasdaq to Offer Crypto Custody Services by Mid 2023

The stock exchange will seek to complete all regulatory requirements and roll out the service by the end of Q2. The leading stock exchange – Nasdaq Inc. – could make another push toward the cryptocurrency sector by launching custody services by the end of the second quarter of this year. Fidelity and Bank of New York Mellon are other financial behemoths that offer such options. Ira Auerbach – Senior Vice President and Head of Nasdaq Digital Assets – said in a recent interview that the global exchange group will aim to obtain all necessary approvals and form the technical infrastructure for the platform in the following months. It has also applied to the New York Department of Financial Services for a limited-purpose trust company charter, which is supposed to monitor the new business. Other well-known names in the financial field who already act as crypto custodians include America’s oldest bank – BNY Mellon – and the brokerage giant – Fidelity Investments.