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Nasdaq to list cryptocurrencies in 2019 - Report

Thu, 06 Sep 2018, 07:02 am UTC

While Goldman Sachs is reportedly putting its plans to open crypto trading desk on hold, Nasdaq is said to be seeking to list cryptocurrencies on its platform in 2019.

In an exclusive report dated August 29, The ICO Journal reported the expected timelines for the listing of cryptocurrencies such as bitcoin and Ethereum on Nasdaq, while quoting “trusted NASDAQ source” and two sources from Gemini.

The Nasdaq source told the news outlet that the company is closely watching the ongoing developments on cryptos at the U.S. SEC and CFTC.

“Even with the longest of time frames assumed, some guidance will be provided and I expect we will act quickly. The framework (two different sets of framework based on two different regulatory outcomes) has already been laid to create a separate silo for coin listings and a robust trading apparatus. Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019,” the source said.

In an interview with CNBC's Squawk Box in April, Nasdaq CEO Adena Friedman had said that Nasdaq would consider becoming a crypto exchange over time. Around the same time, Nasdaq announced a collaboration with Gemini cryptocurrency exchange, which will allow the latter to leverage its SMARTS Market Surveillance technology to monitor its marketplace.

A source from Gemini told The ICO Journal that Nasdaq is already inclined towards “finding an architecture solution and being the first to list actual tokens. Not just ETF’s or futures or some ‘derivative’ of the crypto apparatus…but rather list actual coins.”

“[Nasdaq and Gemini] are getting very comfortable with the structures they’ve seen from Gemini, and the other research they’ve done with exchanges of note. There is a timeline forming for this decision and it could be earlier than some might think,” the source added.

Reiterating these points, another Gemini source pointed out that Gemini was going to double its staff by year-end, which is due to its work with Nasdaq. The source expects the companies to form a joint venture, saying:

“If you made me take a bet on it, I’d put money on their being a joint venture of some sort that sees several tokens listed and available to the public to trade on the Nasdaq by Q2 of 2019…Remember, there is serious competition between these global exchanges to get there with cryptos. Nasdaq wants to plant a flag in the ground no different than Intercontinental (ICE), CBOE, CME, all of them.”

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