Nasdaq, the second-largest exchange in the world by market capitalization ($9 trillion), is now considering trading of cryptocurrency on its platform. In an interview to CNBC's Squawk Box, Nasdaq CEO Adena Friedman told,
"Certainly Nasdaq would consider becoming a crypto exchange over time. 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."
Cryptocurrency or digital asset is no more a thing that can be ignored. Not only governments, banks and financial institutions but even the mainstream investors have started paying attention to the market. By definition, cryptocurrency is decentralized and regulating the market is not easy. However, regulating authorities like The U.S. Securities and Exchange Commission are trying to set rules so that innocent users could be protected.
Once the space matures, Nasdaq is open to becoming a platform for trading cryptocurrencies said Friedman. She was bullish on the future of digital assets. "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."
Meanwhile, Nasdaq partnered with Gemini, a cryptocurrency exchange owned by Winklevoss twins. In the blog, Cameron Winklevoss announces using Nasdaq’s SMARTS Market Surveillance technology to monitor all trading pairs of its crypto marketplace. This partnership will enable Gemini to monitor across all of trading pairs, including BTC/USD, ETH/USD and ETH/BTC.
"Adding trade surveillance technology is the most recent development in our efforts to build a rules-based marketplace, which already includes: (i) an Information Sharing Agreement with Cboe Exchange, Inc. allowing for cross-market surveillance, (ii) our internal Trading Policy with respect to material nonpublic information, and (iii) our Marketplace Conduct Rules that apply to all trading on our marketplace", mentioned Cameron Winklevoss.
Nasdaq consideration to add cryptocurrency exchange will add more institutional investors and hopefully add more believers to the community.
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