A ‘trusted source’ told The ICO Journal that Nasdaq (NDAQ), the second-largest stock exchange in the world by total capitalization is preparing to list multiple cryptocurrencies as early as 2019. Nothing has been confirmed from the exchanges side as of yet, but the news comes as another ray of sunshine for crypto enthusiasts and their hope of mainstream crypto adoption.
The breaking news comes through a report by The ICO Journal, who cites a “trusted Nasdaq source” familiar with the matter. Nasdaq plans to move into crypto trading next year with the listing of many notable cryptocurrencies, including Bitcoin and Ethereum.
EXCLUSIVE: NASDAQ SOURCE: “The listing of several coins will happen in 2019…” https://t.co/CUYR1EPgnU
— Andrew (@AP_Abacus) August 29, 2018
The insider reveals that the financial giant is majorly focussed on the regulatory steps required to list cryptocurrencies on their exchange.
The conversation around listing coins has centered on how they will be classified from a regulatory standpoint. As you can imagine, our leadership is closely connected to the rumbling at the SEC and CFTC around cryptos and what is expected over the next 3-6 months.
Furthermore, the insider noted that the steps to create a separate listing and trading system for digital assets is already in the pipeline.
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.
Last month, Nasdaq reportedly hosted a closed-door meeting in Chicago with representatives from about half a dozen companies, including Gemini and other cryptocurrency exchanges. As per a report by Bloomberg, the gathering was aimed to encourage the industry to work toward improving the image of cryptocurrency by validating its potential role in global markets.
The ICO journal report further adds that these meetings include more actionable outcomes, as indicated by a separate source inside Gemini.
They 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.
Neither of the platforms has confirmed or denied their plans to pursue cryptocurrency listings on the Nasdaq exchange. If reports and their respective sources are to be trusted the next big leap is not that far away.
Read more: Yahoo Finance Integrates Buy and Sell Option for Bitcoin, Ethereum and Litecoin
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