Nasdaq Inc. applies previously developed cryptocurrency technology to provide an institutional-grade platform for a variety of asset markets, including digital assets and carbon trading.
Nasdaq continues to develop technology for tokenized assets after halting the launch of its U.S. cryptocurrency custodian business in July.
In an interview with Bloomberg Television, Nasdaq Co-President Tal Cohen revealed plans to roll out the technology as a comprehensive service. This pivot aims to provide an institutional-grade platform that supports markets such as digital assets and carbon trading.
The shift comes as mainstream financial institutions, including Nasdaq, reevaluate their involvement in digital assets amid increased regulatory scrutiny. Despite withdrawing from direct involvement in crypto-related businesses, Nasdaq remains focused on developing technology to manage crypto assets for its customers.
Nasdaq's decision is consistent with broader trends in financial markets. For example, UK-based companies like Arm Holdings tend to choose US markets, particularly the Nasdaq, for large initial public offerings, as seen in one of the largest stock sales of 2023. It's increasing.
Cohen mentioned the European market and expressed Nasdaq's readiness to work with European lawmakers. He highlighted challenges such as complex tax systems and regulations and advocated changes to make European listings more attractive.
