Nasdaq to Launch Custodial Services for Digital Assets

Nasdaq Inc. is set to launch its custodial services for digital assets by the end of Q2, consequently aligning itself with a growing number of conventional financial institutions that could potentially serve as middlemen for cryptocurrencies, particularly after the bankruptcies that occurred within the industry.

The exchange conglomerate is diligently working towards finalizing all required technical mechanisms as well as regulatory approvals. As a matter of fact, Nasdaq has already filed an application with the New York Department of Financial Services to obtain a limited-purpose trust company charter which would oversee the operations of its new venture.