NASDAQ is the world’s second largest stock exchange. The exchange with a $9 trillion market cap recently unveiled that it is open to becoming a cryptocurrency exchange in a regulated marketplace.
The announcement comes from an interview on the show Squawk Box on CNBC, where the CEO of Nasdaq Adena Friedman was asked about the position they will take on cryptocurrencies.
The original question from the host and ‘Shark Tank’ Kevin O’Leary was:
“A lot of people are frustrated that even if they go into [the cryptocurrency] market, they have no liquidity [at an] exchange. Nasdaq would be a natural place for that, would it not?”
As Friedman answered:
“It’s an unregulated space today, so it’s not something that we’ve decided to go into becoming a [crypto] exchange but we are providing our technology now to other crypto exchanges.”
Friedman also pointed to the newly designed surveillance technology that Nasdaq has created, and the one that will be put to use by Gemini in order to monitor the cryptocurrency trading pairs in Bitcoin and Ethereum. She added the following:
“Over time though, if we do look at it and say people are ready for a more regulated market for something that provides a fair experience for investors, certainly Nasdaq would consider becoming a crypto exchange, over time.”
When asked if she is a believer in cryptocurrencies, she was confident, saying:
“I would definitely say that – 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. Once you look at it and say, ‘ do we want to provide a regulated market for this?
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’, certainly, Nasdaq would consider it.”
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