US-based Stock Exchange operator, Nasdaq, is reportedly planning to expand its range of operations to offering crypto-related assets. Based on reports of inside sources, the stock exchange operator is planning to create a platform for cryptocurrency security tokens.
Nasdaq to Reportedly Create Cryptocurrency Security Tokens Platform
The American stock exchange is planning to expand its range of services to the sales of cryptocurrency security tokens. Reports show that Nasdaq intends to launch a platform where digital asset tokens can be traded in a manner that bears a striking semblance to Initial Coin Offerings (ICOs).
According to sources, the Stock Exchange will develop a platform where security token offerings (STOs) can be staged for the issuance of tokens and crowd sales. With STOs noted to be regulated and recognized under the existing securities law, Nasdaq’s plans are set to create opportunities for the exposure of digital assets to institutional investors.
Nasdaq is reportedly in talks with a blockchain-based startup, Symbiont, for the possible implementation of its plans. The platform will, according to sources, offer and trade regulated cryptocurrency security tokens in line with its current range of services.
Nasdaq’s Gradual Foray into Cryptocurrency
While none of the plans for the expansion has been confirmed, Nasdaq’s interest in digital assets became cemented in 2018. The Stock Exchange partnered with blockchain developer, Chain.com, in 2015 for the development of its blockchain-centered private securities issuance.
Nasdaq was also announced to have planned to introduce crypto data to its market research tool, Analytics Hub, which was launched to help users make investment decisions via analysis of unstructured data.
With this news coming in the wake of reports of the Stock Exchange planning to list several important digital currencies, the exchange’s plans are set to push through the acceptance of cryptocurrencies in the mainstream financial world.
Bloomberg Live@BloombergLiveAdena Friedman @adenatfriedman says @nasdaq is lending its technology expertise to the crypto industry #STYT
According to Sludgefeed, the exchange had further drawn attention to its plans when it reportedly hosted a closed-door meeting with the representatives of several cryptocurrency exchanges. While the details of the meeting remained undisclosed, it would appear that the Financial giant is aiming at bridging the gap between fiat currencies and cryptocurrencies.
“We believe security tokens act as a natural bridge between traditional finance like venture capital and Blockchain and benefit both equally.” An excerpt of an article on the Exchange’s website read.
Though most of the plans remain unimplemented, Nasdaq’s venture into the crypto market is set to create a measure of trust in cryptocurrencies regardless of which plan gets implemented first.
This article by Roxana Florea was originally published at BlockchainFlashNews.com: