BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Nasdaq to launch cryptocurrency custody service soon

Nasdaq to launch cryptocurrency custody service soon


Cryptocurrency custody service aiming to start in 2Q
Nasdaq, a major U.S. stock exchange, will launch “Nasdaq Digital Assets,” a crypto asset (virtual currency) custody service for institutional investors, by the end of the second quarter (April to June) of this year. We aim to
“We are working to get the necessary technical infrastructure and regulatory approvals,” Ira Auerbach, vice president of Nasdaq Digital Assets, said in an interview with Bloomberg. Nasdaq is in the process of applying to the New York State Department of Financial Services to form a corporation for the sole purpose of overseeing new businesses.
In the future, the new entity will provide a full suite of services for Nasdaq’s Digital Assets division, Auerbach said. It will start with custody services for Bitcoin (BTC) and Ethereum (ETH), and then plans to engage in trade execution services for financial institutions.
In September 2022, Nasdaq announced plans to establish Nasdaq Digital Assets.
At this time, Adena Friedman, CEO of Nasdaq, said about Nasdaq Digital Assets that Nasdaq has introduced in recent years, such as “marketplace technology for digital asset exchanges, cryptocurrency-native financial crime prevention services, and cryptocurrency-related index products.” He said it would build on the success of cryptocurrency-related solutions.
connection : US Nasdaq plans to launch virtual currency custody

What is custody
Refers to holding and managing assets on behalf of investors. A term widely used for assets other than virtual currency. It refers to a service that performs a wide range of operations, such as asset custody, settlement related to trading, receipt of principal and interest, dividends, and exercise of voting rights. A company that performs custody is called a custodian.
Cryptocurrency Glossary

Provides cryptocurrency related indices
Nasdaq is now offering a cryptocurrency-related index, the Nasdaq Crypto Index (NCI).
It tracks the performance of a diverse basket of cryptocurrencies traded in US dollars. Incorporated assets must be traded on at least two major exchanges, be supported by at least one major custodian, and undergo quarterly rebalancing and restructuring.
Cryptocurrency asset management firm Hashdex and others are offering exchange-traded products (ETPs) that reference the NCI.
Hashdex offers six ETFs that track various cryptocurrency indices on the Brazilian Stock Exchange. One of the products, HASH11, tracks the NCI on the Nasdaq. Hashdex reports that in the first half of 2022, there were more than 150,000 investors in the product, recording an investment of over ¥10.5 billion ($80 million).
BNY Mellon and Fidelity Cryptocurrency Business
In addition to Nasdaq, BNY Mellon, a major US trust bank, and Fidelity, a major US financial institution, are already in the custody business of virtual currencies.
Fidelity launched Fidelity Digital Asset Services (FDAS) in 2018 to provide trading and custody services for institutional investors. Bitcoin (BTC) and Ethereum (ETH) trading services for retail investors also launched in earnest this month.
In October 2010, he published a report stating that “the time may be approaching when Bitcoin can be considered as a hedge for the existing currency system” as the US dollar continues to appreciate.
connection : Financial giant Fidelity “Bitcoin will be reviewed as a hedge”
BNY Mellon also started offering Bitcoin and Ethereum custody services to fund customers in October 2022. It is also known for storing reserves for Circle’s USDC stablecoin.
connection : US BNY Mellon launches virtual currency storage service
nhttps://imgs.coinpost-ext.com/uploads/2021/09/nasdaq-defi-data-transfer-1.png -->




The post Nasdaq to launch cryptocurrency custody service soon appeared first on Our Bitcoin News .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Nasdaq to launch cryptocurrency custody service soon


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script