Nasdaq repurposes crypto technology for new markets and calls on lawmakers to list in New York

• Nasdaq is repurposing its cryptocurrency technology for carbon markets and other emerging assets, offering an institutional-grade platform instead of a custodial service due to regulatory constraints
• Despite discontinuing its pursuit of a digital asset license, Nasdaq continues to develop cryptocurrency technology for customers.
• US stock traders benefit from listing British startups in New York rather than on LDN, and Nasdaq is open to working with regulators to make the region more attractive for listings, as Europe’s structural issues hamper listings.

Nasdaq charts a new course with repurposed technology

Major exchange operator Nasdaq is poised to repurpose technology it developed for its abandoned U.S. cryptocurrency custody business to expand into new emerging markets.

“We’ll still launch it, but we’ll launch it as a technology service,”

Tal Cohen

The company’s co-chairman, Tal Cohen, revealed in an interview with Bloomberg Television that Nasdaq would launch the technology service instead of pursuing a license for the digital asset business due to regulatory pressure. The move is aimed at attracting more customers to new assets, such as carbon.

Expansion plans in carbon markets

Nasdaq’s decision to repurpose its crypto technology for new markets comes as the company looks to expand into carbon markets. Cohen said Nasdaq’s end-to-end institutional-grade technology platform would power not only digital assets but also markets such as carbon. The move is part of Nasdaq’s efforts to stay ahead of emerging markets and provide its clients with a competitive advantage.

Nasdaq Calls on Lawmakers to List in New York

Tal Cohen has called on lawmakers to make New York a more attractive destination for British startups to list. Cohen cited structural issues in Europe, including tax regimes, burdensome regulations and fragmentation, as major barriers to listing in London.

“In Europe, I think we are facing structural problems related to tax regimes, burdensome regulations, a lot of fragmentation and complexity,”

The Nasdaq has benefited from British startups choosing to debut on public markets in New York rather than London, and Cohen’s appeal to lawmakers is part of the company’s efforts to maintain its market share and attract more customers.

Fuente