“Certainly Nasdaq would consider becoming a crypto exchange over time,” said the company’s CEO, Adena Friedman. A key roadblock, not only for Nasdaq but also other institutional investors, is regulation.
“I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature,” Friedman added.
Nasdaq supports existing cryptocurrencies, while watching things unfold.
“I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature,” Friedman said and continued that “once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly Nasdaq would consider it.”
Friedman’s point of view fits with recently expressed opinions of many analysts. Adrian Lai of Hong-Kong-based Orichal Partners explained that the lack of proper regulations is the main reason for institutional investors’ caution.
Bitcoin’s huge price run of 2017 did not go unnoticed with the regulators. BTC increased by 1300% until December and neared $20k per coin. It then had the worst quarter since its conception and dropped by 48% in the first quarter of 2018.
Nasdaq is an American stock exchange, a world’s second by market capitalisation. It managed to reach a market cap of $9 trillion since it was founded 47 years ago (1971). It is second only to the New York Stock Exchange.
Nasdaq recently announced collaboration with Gemini cryptocurrency exchange founded by the Winklevoss brothers. The cooperation will give Gemini access to Nasdaq’s surveillance technology. This will help ensure the platform to provide a fair and “rules-based marketplace,” according to Gemini CEO Tyler Winklevoss.
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