Nasdaq, After Pivoting Crypto Ambitions
After ending its crypto custody plan, Nasdaq pivoted to tokenized U.S. Treasuries, but progress was too sluggish for some now-former employees, a person familiar with the matter said.
Stalled or canceled cryptocurrency projects at Nasdaq – including a previously unreported effort to tokenize U.S. Treasury bills – have led to members of the exchange giant’s digital assets team no longer working at the company, according to three people with knowledge of the matter.
In July, Nasdaq announced it would stop trying to become a licensed custodian of crypto or digital assets, blaming regulatory uncertainty in the U.S.
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