Is NASDAQ Planning to List Crypto in 2019?
The firm is believed to be closely working with regulators since the initiative is unique.
NASDAQ’s Plan To List Crypto
Emerging reports indicate that NASDAQ is planning to launch and back a cryptocurrency of its own. By market capitalization, NASDAQ is ranked as the second largest securities exchange platform. The expected coin will be listed on an exchange platform. According to reports, the coin will be a close to the action by a real crypto.
The announcement comes after NASDAQ suspended its plan to list futures. If the crypto is launched and traded without any hitch, NASDAQ will be making a statement in the transition of traditional money into digital coins. It has to receive an approval from the SEC. Previous exchanges that tried to list own cryptos were rejected on the grounds of federal-run exchange has not listed any coin.
A source who talked to ICOJournal revealed that NASDAQ seeks to engage regulators more often to avoid rejection. The source further indicated that regulators are already aware of the plan but discussions are centred around categorizing the coin on regulations alone. NASDAQ is ready for any new regulations that might come along the way. With the available timeframes, the coin might be listed within the first quarter of 2019.
Despite the rumours, NASDAQ has never made any announcement regarding launching a crypto. However, the firm is known for studying the crypto market by signing pacts with several exchange platforms. One of the exchange is Gemini.
Collaboration with Gemini
It is believed that Gemini and NASDAQ enjoy a cordial relationship. Gemini is set to increase its staff size to work closely with NASDAQ. Elsewhere NASDAQ is looking for solutions for coming up with tokens, and Gemini has been contracted to spearhead this course.
If the reports are true, then NASDAQ will become the first formal institution to list a cryptocurrency.