Nasdaq Open To Creating A Crypto Exchange, Says CEO

Announcements, FinTech, Investing, News, Regulation | April 25, 2018 By:

Nasdaq CEO Adena Friedman says the company is open to trading cryptocurrencies, but wants to see the market mature a bit more before establishing a platform.

Speaking to CNBC, Friedman was upbeat on crypto’s prospects. “Certainly Nasdaq would consider becoming a crypto exchange over time,” she said. “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.”

Holding things back is the uncertainty over regulation. That hurdle needs to be overcome before Nasdaq jumps into the exchange waters.

“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,” Friedman said. “Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly Nasdaq would consider it.”

While establishing its own exchange is still in the future, Nasdaq is moving forward on support for existing exchanges. Today the company announced a deal with cryptocurrency exchange Gemini, founded by Tyler and Cameron Winklevoss. Gemini will gain access to Nasdaq’s surveillance technology to ensure a “rules-based marketplace,” Gemini CEO Tyler Winklevoss said in a statement.