Thursday, October 6, 2022
HomeAltcoinsNasdaq to provide custody services for new digital assets business

Nasdaq to provide custody services for new digital assets business

According to the recent announcement the second biggest stock market exchange in the United States would now provide custody services among its many other goods was made recently. In a recent press release issued by the Nasdaq, this decision was driven by increased institutional interest in the stock market.

In spite of the fact that the article does not detail the digital assets that the operator would provide, there are two currencies in particular that have attracted the interest of institutional investors over the last few years: Bitcoin (BTC) and Ethereum (ETH).

When it comes to institutional investors, the two cryptocurrencies with the biggest market cap provide the highest levels of network security, price stability, and liquidity, making them ideal candidates for first-time investments in the cryptocurrency market.

Since then, it has been reported by Bloomberg that the corporation does not currently have any intentions to purchase a cryptocurrency startup, despite the fact that it is open to collaborating with native cryptocurrency companies.

Wall Street Investors Rush The Cryptocurrency Market:

Wall Street Investors Rush The Cryptocurrency Market
Wall Street Investors Rush The Cryptocurrency Market

The most recent action taken by Nasdaq is consistent with the pattern that has been seen recently from conventional institutional investors. According to a recent article published by CNF, BlackRock and Coinbase have joined in order to provide institutional investors with access to the bitcoin market through the Coinbase Prime Service.

A recent announcement by the cryptocurrency exchange FTX, located in the United States, revealed the company’s collaboration with GameStop. According to the cryptocurrency exchange and the video game company, the primary goal of the partnership is to encourage engagement between the gaming community and the cryptocurrency community.

The participation of conventional institutional investors is expected to usher in a wave of additional capital into the cryptocurrency market, which will in turn drive up demand. According to the assertions of several analysts, the participation of institutional investors in the cryptocurrency market might result in improved regulation, increased prices, and widespread use of cryptocurrencies. 

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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