On Saturday trading (25/3/2023) at 11.45 WIB Bitcoin and Ethereum became the most actively traded crypto currencies. Known Nasdaq Inc. plans to launch a custodial service for Bitcoin and Ethereum (ETH) in the next three months.
In an interview with Bloomberg on Friday, Ira Auerbach, senior vice president and head of Nasdaq Digital Assets, said the company was working to finalize the technical infrastructure as well as get final regulatory approval. New businesses can be launched before the end of the second quarter.
Nasdaq Digital Assets builds on successful solutions that have been introduced in recent years to serve the digital asset ecosystem, including market technologies for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products.
The company aims to offer a complete suite of services for the group’s digital asset division, which will eventually include execution for financial institutions. The exchange’s move to crypto will mark a departure from its traditional business of dealing in stocks and bonds.
This breakthrough will also help fill the gaps in crypto storage services left after the collapse of FTX last year. Other companies, such as BNY Mellon and Fidelity have also ventured into crypto to offer custodial services.
Despite a spate of crypto company bankruptcies and a sharp drop in digital asset values last year. While the crypto market has been on the rise in recent weeks. In addition, several crypto currencies are still popular with investors where XRP and Litecoin are again the top gainers in a week.
And there are also a number of cryptocurrencies that are starting to be abandoned by investors, such as Immutable which touched the USD1.1 level at 11.45 today with a weekly decline of 26.79%.