Nasdaq Aiming to Debut Crypto Custody Service by Q2 End: Bloomberg

The stock exchange operator announced its intentions last September as it looked to respond to the demand from institutional crypto investors

AccessTimeIconMar 24, 2023 at 12:53 p.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Nasdaq (NDAQ) is aiming to debut its crypto custody services by the end of the second quarter, Bloomberg reported on Friday.

The stock market exchange operator's senior vice president and head of digital assets, Ira Auerbach, said the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department of Financial Services (NYDFS) for a limited-purpose trust company charter which would oversee its custody service.

Nasdaq announced its intentions in September as it looked to respond to the demand from institutional crypto investors.

Traditional finance companies such as Nasdaq are looking to fill the gap left by more crypto-centric firms that have shut their doors in recent months, with exchange FTX and banks Silvergate and Signature the most prominent.

Should appetite for crypto among the likes of Nasdaq remain strong, it may prove a positive signal for mainstream cryptocurrency adoption.

Nasdaq did not immediately respond to CoinDesk's request for further comment.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about