Nasdaq to Launch Institutional Crypto Custody Service, Competing with Major Players

Nasdaq Expands into Institutional Crypto Custody

Nasdaq, a leading global stock exchange, is exploring the launch of a crypto custody service tailored for institutional investors. The service, which is currently awaiting regulatory approval, aims to position Nasdaq as a direct competitor to major players like Coinbase, BitGo, and Gemini.

Competing in the Institutional Crypto Market

This move represents a strategic shift for Nasdaq, which has historically provided infrastructure and technology to dominant crypto platforms rather than competing with them. By entering the custody space, Nasdaq is leveraging its reputation for security and compliance to attract institutional clients.

Nasdaq's Growing Presence in Crypto

Nasdaq has been gradually expanding its footprint in the digital asset space. In 2021, it partnered with Hashdex to launch an educational curriculum for financial advisors, focusing on the evolution of digital assets, regulations, and investment strategies. Additionally, Nasdaq recently collaborated with Brazil’s largest brokerage firm, XP, to launch a crypto exchange in the country.

Market Context

The global crypto market cap currently stands at approximately $920 billion, reflecting the ongoing volatility and growth in the sector. Nasdaq’s entry into institutional custody services underscores the increasing demand for secure and regulated solutions in the digital asset ecosystem.

This expansion highlights Nasdaq’s commitment to adapting to the evolving financial landscape and capitalizing on the growing institutional interest in cryptocurrencies.