By launching custody services by the end of the second quarter of this year, the leading stock exchange, Nasdaq Inc., could make an additional push toward the cryptocurrency industry.

Other financial behemoths that provide these options include Fidelity and Bank of New York Mellon.

In a recent interview, Senior Vice President and Head of Nasdaq Digital Assets Ira Auerbach stated that the global exchange group will endeavor to obtain all necessary approvals and establish the platform’s technical infrastructure within the next few months.

• Nasdaq may begin offering cryptocurrency custody services by the middle of 2023 if everything goes according to plan.
  It has also applied for a limited-purpose trust company charter from the New York Department of Financial Services, which is supposed to keep an eye on the new business.
• The oldest bank in the United States, BNY Mellon, and the largest brokerage firm, Fidelity Investments, are two additional well-known names in the financial industry that already serve as crypto custodians.
• Nasdaq’s decision to store digital assets like bitcoin and ether would be a significant step, but it would not be the company’s first venture into the crypto industry.
• In September of last year, it joined the industry by starting a division called Nasdaq Digital Assets to help institutions that want to learn more about the asset class.
• Tal Cohen – Leader VP of the stock trade – remarked that such substances have proactively shown a rising interest in crypto, adulating his company as “strategically situated to speed up more extensive reception and drive manageable development.”

“The technology that underpins the digital asset ecosystem has the potential to transform markets over the long term. To deliver on that opportunity, our focus will be to provide institutional-grade solutions that bring greater liquidity, integrity, and transparency to support the evolution,” President Adena Friedman added.