Will Nasdaq move on to trading cryptocurrency eventually? Company’s CEO Adena Friedman believes that “Nasdaq would consider becoming a crypto exchange over time”.
Having the world’s second-largest stock exchange become a part of the crypto-sphere, would definitely spice things up and bring in some of the much-needed institutional funds.
And things are looking good now, as Nasdaq announced that it is busy with acquiring Cinnober, a Sweden-based trading solution, known for making it easier for institutions to invest in crypto.
“The combined intellectual capital, technology competence and capabilities of Cinnober and our Market Technology business will expand the breadth and depth of our fastest growing division at Nasdaq. Not only have the global capital markets continued to evolve rapidly, new marketplaces in various industries are demanding market technology infrastructure that enables rapid growth and scale as well as access to tools to promote market integrity. This acquisition will enhance our ability to serve market infrastructure operators worldwide, and will accelerate our ability to expand into new growth segments.” – said Adena Friedman.
Cinnober certainly seems like a good match for Nasdaq, or any other large institutional investor. It partnered with BitGo, an expert in institutional-grade cryptocurrency custody security and it may this cryptocurrency custodian service, which made Nasdaq really want Cinnober.
Whatever the reason – we’re curious what will come out of it.