Nasdaq has kept a very close eye on recent developments in the world of cryptocurrency. It seems the company is intent on launching its own cryptocurrency exchange in the future, although nothing has been set in stone just yet. It is quite interesting to see how financial entities are bringing cryptocurrency to the mainstream after many years of opposing Bitcoin and altcoins.
What is Nasdaq Planning Exactly?
It has become apparent that Nasdaq is rather open-minded when it comes to Bitcoin and other cryptocurrencies. The financial giant made a deal with Gemini earlier this month, allowing the exchange to use Nasdaq technology to monitor its markets and daily auctions. It is a positive development for both the exchange and Nasdaq alike.
However, the financial giant is not done with cryptocurrency just yet. Its CEO has made it clear that the company is keeping a very close eye on how the world of cryptocurrency is evolving. With regulation being such a hot topic right now, this nascent industry may soon enter the next stage. Regulation offers more legitimacy for cryptocurrency as a whole, and it allows existing financial players to get in on the action without repercussions.
It seems Nasdaq is even contemplating launching its own cryptocurrency exchange at some point. That would certainly bring a lot more competition to this market. Exposing more people to cryptocurrencies will take Bitcoin and altcoins to a whole new level in the future, but it remains to be seen how this particular venture will play out, as nothing has been finalized at this stage.
Nasdaq CEO Adena Friedman has been rather bullish on cryptocurrency as of late. In a recent CNBC interview, Friedman commented that “digital currencies will continue to persist.” That is a positive outlook, albeit one that not everyone shares. Most financial experts expect the cryptocurrency bubble to end fairly soon and potentially result in Bitcoin and altcoins becoming all but obsolete.
Even so, Friedman is convinced that things will only get better for Bitcoin and altcoins from here on out. It appears to only be a matter of time until things improve, as crypto’s maturation process has been underway for quite some time now. Slowly but surely, things are heading in the right direction, especially with regulation now coming into play and Bitcoin futures contracts launching not long ago.
Whether or not Nasdaq will launch its own cryptocurrency exchange remains to be determined. There’s a very real chance the company will explore this option once the dust settles. If Nasdaq were to get involved, there is no telling how the cryptocurrency markets would respond. Consumers and investors are demanding more exposure to cryptocurrency, and they may very well get it.