Nasdaq Open To Creating A Crypto Exchange, Says CEO

Ivan Schwartz
April 26, 2018

"Over time, though, if we do look at it and say, 'it's time, people are ready for a more regulated market, ' for something that really provides a fair experience for investors, certainly Nasdaq would consider becoming a crypto exchange - over time".

The CEO of Nasdaq Inc. states the company is open to listing cryptocurrencies and has tapped US-based cryptocurrency exchange Gemini to use its SMARTS surveillance technology, which monitors real-time activity and raises alerts with operators when it discovers unusual trading patterns. "Certainly Nasdaq would consider becoming a crypto exchange over time", she said. The Nasdaq now sees trades totaling $500 billion+ every month and would be a huge bolster to Bitcoin and many other coin's visibility.

"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 continued. Until then, don't expect Ethereum or Bitcoin to pop up on your E-trade account screen anytime soon.

Gemini, the NY registered digital asset exchange announced they will be using Nasdaq SMARTS Market Surveillance which will enable the bitcoin and ether exchange to monitor trading across BTC/USD, ETH/USD, and BTC/ETH.

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While bullish about virtual currencies themselves, Friedman proved skeptical of initial coin offerings (ICOs), and said that something drastic had to be done to get things in order. "The (U.S. Securities and Exchange Commission) is right that those are securities and need to be regulated as such".

According to Friedman, Nasdaq and institutional traders will enter into cryptocurrency arena only after regulatory issues are ironed out.

"Since launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole", said Tyler Winklevoss, CEO, Gemini.

Looking at its overall business in Q1 2017, Nasdaq reported an all-time high in its total revenues of $666.0 million, which was good for a 9 percent quarter-over-quarter growth compared with ‎$611.0 million in Q4 2017.

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