Nasdaq to reuse its crypto-custody tech on other markets

The Nasdaq account reuse sa technology designed as part of its aborted plans from cryptocurrency custody to offer a technological platform dedicated to various markets, including the carbon.

In a recent interview with Bloombergthe co-chairman of NasdaqTal Cohen, stated that his company plans to redeploy its crypto-cutody technology.

Last year, Nasdaq announced its ambition to offer crypto products, including a custody service. The American stock exchange finally backed down this summer, citing the changing regulatory environment in the United States.

Nasdaq is now planning to reuse the underlying technology of its aborted crypto offering to expand into other markets.

We’re still going to launch it, but we’re going to launch it as a technology service. We’re going to have an end-to-end, institutional-grade technology platform that we hope will power not only digital assets but also markets like carbon,” Cohen said.

At the time of the crypto initiative’s discontinuation announcement, its president said the operator remained “committed to supporting the evolution of the digital asset ecosystem in a variety of ways”.

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Several blockchain startups are working around the tokenization of carbon credits with the aim of improving the costs, security and transparency of investments.

Nasdaq is meanwhile preparing to list spot ETFs on Bitcoin awaiting approval by US regulator SEC, including BlackRock’s iShares Bitcoin Trust fund.

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