Nasdaq was the world’s first electronic stock market when it was founded in 1971. In the late 90s it became the first market in the US to offer online trading, and positioned itself as “the stock market for the next hundred years.” Last week its reputation as a true pioneer of the sector was further solidified as an insider quietly announced that the company expects to list key cryptocurrencies on its exchange as early as Q2 of 2019.
With a market capitalization of $10 trillion, Nasdaq is the the world’s second largest stock market, and widely acknowledged as a world leader in market technology. So whilst a number of other stock markets have gone public with their intentions to explore crypto listings, Nasdaq is a next level proposition. It’s clear that their seasoned negotiators have the clout to address the significant barriers that remain between Bitcoin, Ether and the rest being available on mainstream international exchanges. Of course top of the list in terms of the logistics of trading crypto on such platforms is ongoing issues around regulation. And it seems they’re working closely with the SEC and CFTC to negotiate a pathway through this complex territory.
This isn’t the first time the company have expressed an interest in crypto, having already established links with the Winkelvoss twins’ Gemini exchange. Earlier this year CEO Adena Friedman said that “Nasdaq would consider becoming a crypto exchange over time,” but that they needed to ensure that crypto “provides a fair experience” for traders and investors.
But this latest announcement has far more teeth than any previous discussion. Insiders say Nasdaq “will act quickly” once a resolution is reached by the SEC. Indeed there’s even a timeline, which apparently looks for “regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.”
