Nasdaq has been keeping a close eye on events in the digital currency industry. Nasdaq CEO Adena Friedman now says the company may consider running its own cryptocurrency in the future.
The wave of digital currency has been sweeping around the world and has attracted the attention of financial regulators and governments alike. It may be interesting to see how financial players are responding to this cryptocurencies and even trying to integrate them into the mainstream financial system after years of opposition.
Nasdaq noted that at the right time and when the opportunity presents itself, the company is willing and open to run a cryptocurrency market. She however added that such a move would require a market that is well regulated so as to offer a fair and transparent experience for investors.
It is evident that Nasdaq is treating cryptocurrencies with an open mind. Earlier in April, the company signed a deal with Gemini which allowed the crypto exchange to use Nasdaq technology in monitoring its daily auctions and markets. This is a step in the right direction for Nasdaq and the exchange. According to Friedman, cryptocurrencies is a viable business model with a lot of potential even as it grows and matures.
The financial giant is not yet done with digital currency. The CEO indicated that they are closing following events in the sector and how the whole world of digital currencies is evolving. With the hot topic being regulation, the new industry may soon get the green light and enter the next phase. Proper regulations will give the cryptocurrency industry the legitimacy backing and allow investors enter the industry without fear of losing their investments.
Friedman said that she is optimistic that the industry is here to stay and the question that many should be asking is how long it will take before the sector fully matures. She says once the industry matures with the right regulatory framework in place, Nasdaq may consider launching an exchange for cryptocurencies. According to her, the main roadblock preventing Nasdaq from starting its own crypto market is lack of regulations. The U.S. Securities and Exchange Commission (SEC) has continually reminded token issuers and exchanges of their obligations under the federal securities laws.