Nasdaq is pausing its plans to release a crypto custody business, CEO Adena Friedman said on the company's earnings call Wednesday.
"However, we continue to build and deliver technology capabilities that position Nasdaq as a leading digital asset software solutions provider to the broader global industry."
Nasdaq still provides the company listing for Coinbase and filed the paperwork for recent bitcoin ETF applications from BlackRock and others.
The exchange operator first revealed plans to develop the custody solution in September along with the formation of its crypto business, Nasdaq Digital Assets.
Efforts have been underway this year to create new solutions that decouple the trading and custody functions of crypto exchanges.
Persons:
Adena Friedman, we've, Coinbase, Friedman
Organizations:
Nasdaq, Nasdaq Digital Assets, New York Department of Financial Services
Locations:
BlackRock