On the official website, NASDAQ, the world's second-largest stock exchange, officially announced its participation in the cryptocurrency market by providing crypto custody services for institutions.
Accordingly, with the growing cryptocurrency market and solid and potential audience, NASDAQ first aims to provide crypto custody services for Bitcoin and other cryptocurrencies to institutions. Then, plans to expand to other crypto-related services.
This move will mark a new chapter for NASDAQ with the decision NOT to compete directly in the US market currently dominated by Coinbase, BitGo, and Gemini. Instead, this exchange serves these institutions with typical services such as its trading and market surveillance technologies.
Changpeng Zhao (CZ), the founder of the Binance exchange, also made the move to celebrate NASDAQ on his latest Twitter.
“This has some interesting implications on how institutions will adopt bitcoin, a big market for the US. Let's see how it plays out. The more the merrier."
NASDAQ's participation also shows that Crypto's growth potential is gradually being realized and targeted. With the big names in the traditional financial market like BlackRock, Barclays, and many others taking many steps related to Crypto, will the crypto market get a big step forward in the future?