On June 5th, Nasdaq CEO, Adena Friedman stated that cryptocurrencies are at a “height of a hype cycle” and also proves to be the “financial element of the internet.” With regulations being a roadblock, Friedman further said that if cryptocurrencies continue to “mature” and incline, Nasdaq would consider becoming a digital currency exchange platform, providing a better experience to its investors. The CEO stated:
“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.”
Friedman said that instead of taking a leap, she would first watch the cryptomarket and then decide on providing a trading platform. She further said:
“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.”
Cryptos are the future, as we all know it. Many organizations and institutions are adopting cryptocurrencies and launching either their own trading platforms or supporting one, such as Nexfinance, a digital currency exchange platform recently created by Samsung. Friedman said that Nasdaq will eventually introduce crypto exchange, but in the meantime, it is supporting other cryptocurrencies and working on a technology called Gemini- a digital platform for business, trading, investors and to buy and sell digital assets.
Nasdaq has also collaborated with Gemini, a cryptocurrency exchange platform founded by two early bitcoin investors, Tyler and Cameron Winklevoss, to provide Nasdaq with a fair and equal marketplace.