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Business & Finance

Bright Future For Cryptocurrencies: NASDAQ Announces Crypto Exchange

Nasdaq, which is the second-largest exchange in the world by market capitalization, has endorsed cryptocurrencies and said it is open to becoming a platform for trading cryptocurrencies in open market once space matures. Its good news for crypto investors when financial experts like CEO Nasdaq are endorsing cryptocurrencies.

Certainly Nasdaq would consider becoming a crypto exchange over time. If we do look at it and say ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors,” adding, “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. Adena Freidman, CEO NASDAQ

At the same time, they are supporting existing exchanges, has announced a collaboration with cryptocurrency exchange Gemini, founded by early Bitcoin investors Tyler and Cameron Winklevoss. There are many bold steps taken by financial giants that go in the favor of cryptocurrencies:

  • Almost all the traditional financial institutions are planning to back up cryptocurrencies and are ready to start their own platforms for the trading of Cryptocurrencies. It is another endorsement positively affecting the future of cryptocurrencies.
  • According to the sources, financial giant Barclays will start trading cryptocurrencies and they will have a crypto trading section in every branch of their bank across the world.
  • And largest investment bank Goldman Sachs has hired Justin Schmidt as head of digital asset markets to help clients gain exposure to cryptocurrencies.
  • George Soros’ wealth management firm is planning a dip into crypto.
  • Venrock, the Rockefeller venture capital firm, partnered with CoinFund, a crypto assets hedge fund.

According to the survey reports by Thomson Reuters, One in five institutional financial firms have plans to start buying and selling digital tokens within the next 12 months.

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Muhmmad Furqan

Furqan is a financial markets expert. A regular trader of cryptocurrencies and hold some investments in Bitcoin, Stellar, IOTA and OST. Contributes with latest industry insights. Contact the editor at editor.opinions@blockpublisher.com

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