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Nasdaq expects its custody services for digital assets to launch by the end of the second quarter as it joins a growing pool of traditional financial firms that could fill the role of crypto middlemen following a spate of bankruptcies in the industry.
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Nasdaq will join BNY Mellon and Fidelity among other large financial firms offering crypto safekeeping. Others are focusing efforts on tokenizing traditional assets like bonds in the hopes that crypto’s underlying technology will make trading and processing the assets more efficient.
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