NASDAQ is the second largest stock exchange in the world with a market capitalization of around $7.8 billion. Nasdaq Inc., who run the exchange as well as eight European stock exchanges, holds around $14 billion in assets and employs over 4,000 people worldwide. Just the kind of mainstream institution which would be highly sceptical of cryptocurrency, one might think. But recent news suggests that even Nasdaq are in discussions about their role in the future of the crypto sector.
Reports detail a meeting in Chicago, organised by Nasdaq and held behind closed doors. The event covered a range of topics including the nature of regulation in the space, crypto sector’s search for legitimacy, its current and future role in world finance and markets, and the potential for Nasdaq to support the industry. The meeting was attended by experts from across the sector, including professionals from Gemini and some major crypto exchanges.
Nasdaq CEO Adena Friedman has made a number of statements about crypto in the past, and appears to be open to the possibilities the sector opens up. At an event in June she said that “over time we’re going to find that there is really utility” in crypto and has remarked that we need “a more globalized payment mechanism that is more efficient than what we have today.”
Friedman has also made a number of statements regarding the issue of regulation in the space, and this is one area where Nasdaq will have abundant knowledge and expertise. Nasdaq are already providing technical support to a number of crypto exchanges, so they’re certainly not new to the nascent industry. What form their future role takes remains to be seen.
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