ACCORDING to Nasdaq CEO Adena Friedman, the company is open to becoming a platform for trading cryptocurrencies. Friedman cited regulation as the Nasdaq’s main motivation for potentially creating a more professional exchange.
“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.”
For the time being, Nasdaq is supporting existing crypto exchanges. On Wednesday, the company revealed an alliance with cryptocurrency exchange Gemini, founded by early bitcoin investors Tyler and Cameron Winklevoss. Nasdaq also collaborated with California based ETF firm, Reality Shares, to launch two blockchain-related funds. The latest is scheduled to come to market in June.
The crypto adept have been predicting the influx of institutional capital for quite some time. News of the Nasdaq’s interest follows a slew of headlines about major players entering the space.
The Rockefellers’, Rothschilds’, and Soros’ funds have all publicly announced plans to enter the space once considered a bubble by almost all major financial institutions.
Goldman Sachs joined the frenzy by appointing their first head of digital asset markets in the companies’ securities division.
While the inflow of massive institutional capital is exciting, the Nasdaq news is significant because it could potentially bring much needed regulation to the primitive constructs currently in place. Without proper regulation mass adoption is inconceivable.
Cryptocurrencies pose a colossal threat to the current financial system, and it appears the existing entities are prepared to assist in their own annihilation, for profit.