Nasdaq Stock Exchange Sets Up Crypto Asset Business?

Based on the Decrypt report, the well-known US stock exchange wants to launch a crypto storage service for institutions.

The move was taken because Wall Street is trying to embrace institutional investors into crypto, even though the crypto market is not currently bright.Nasdaq Sets Up Crypto Asset Business

This latest crypto asset service from Nasdaq will initially offer storage services for major crypto assets such as Bitcoin (BTC) and Ether (ETH).

Clients will only come from institutions, where Nasdaq has recruited the former Head of Gemini Prime crypto exchange, Ira Auerbach, to lead its crypto division, Nasdaq Digital Assets.“Demand among institutional investors to engage in digital assets has increased in recent years, and the Nasdaq is well positioned to accelerate wider adoption and drive sustainable growth,” said Tal Cohen, Head of North American Markets at Nasdaq. from Coindesk.

Of course, the latest offering from the US stock exchange will be fully subject to regulatory approvals regarding digital assets.Cohen also said that the company has also offered security and surveillance tools, but will not currently offer services like crypto exchanges.

Of course, this isn't the first time Nasdaq has ventured into crypto assets, as last May the stock exchange partnered with Brazilian company XP to launch the XTAGE crypto exchange.Nasdaq also adds to the list of major companies entering the crypto industry, after BlackRock, which also offers institutional clients exposure to crypto assets.

From an institutional point of view, the current bear market is probably not the end, but the beginning of maximizing profits.Why? Because if you stick to the historical movements of the crypto market, this is a massive discount condition that needs to be taken advantage of as much as possible.