Nasdaq “Would Consider” Becoming Cryptocurrency Exchange, Says CEO | News ICORating
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Nasdaq “Would Consider” Becoming Cryptocurrency Exchange, Says CEO

Nasdaq “Would Consider” Becoming Cryptocurrency Exchange, Says CEO

Nasdaq, the world’s second largest stock exchange, may be interested in opening its own cryptocurrency exchange in the future.

CEO Adena Friedman said that Nasdaq “would consider” becoming a cryptocurrency exchange in a televised interview with CNBC’s Squawk Box when asked about her own position on cryptocurrencies.

Founded in 1971, the New York-based Nasdaq stock exchange is only smaller than the New York Stock Exchange (NYSE) and has a market capitalization of over $9 trillion.

Friedman cautioned that the crypto market is an “unregulated space” but noted that Nasdaq is already providing technology to crypto exchanges. Nasdaq announced a partnership with cryptocurrency exchange Gemini, founded by early Bitcoin and Facebook investors Cameron and Tyler Winklevoss. Under the deal, Gemini will gain access to Nasdaq’s market surveillance technology to detect manipulation and fraud.

Although crypto is currently unregulated, Friedman said that when “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.”

Asked whether she believed in cryptocurrencies, Friedman answered that she believes that digital currencies “will continue to persist.” According to Friedman, “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?’, certainly, Nasdaq would consider it,” she added.

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