Nasdaq Plans to Launch Crypto Custody Service by the End of Q2

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Today’s Cryptocurrency Headline

According to Bloomberg, Nasdaq plans to launch a cryptocurrency custody service by the end of the second quarter. Nasdaq is moving forward with its plan to offer crypto services and has applied for a limited-purpose trust company charter with the New York Department of Financial Services. Safekeeping Bitcoin and Ether would be the initial service offered, with plans to eventually expand to execution for financial institutions. 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.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 3.15 % over the last 24 hours and fell to an intraday low of $27,009.26. The largest cryptocurrency fell below the $28,000 price level amid investor concerns over Deutsche Bank contagion risks. The rising 20-day exponential moving average and the relative strength index near the overbought zone indicate that bulls remain in control. If the BTC/USDT returns above $28,000, the BTC/USDT pair could rise to $30,000. On the other hand, if the price drops below $27,000, the BTC/USDT pair could find support around $26,400.

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