As a researcher with experience in the cryptocurrency and fintech industries, I’m closely following the developments at Nasdaq regarding their digital asset initiatives. The recent reports of stalled or canceled projects, including an effort to tokenize U.S. Treasury bills, have raised some concerns.
Recent setbacks or terminations of cryptocurrency initiatives at Nasdaq, including an undisclosed attempt to tokenize U.S. Treasury bills, have resulted in some members of the exchange’s digital assets team leaving the company, as confirmed by three well-informed sources.
In July, Nasdaq revealed its decision to abandon efforts to obtain a license for holding crypto or digital assets as a custodian, citing the unclear regulatory landscape in the United States as the reason.
The person with knowledge of the situation revealed that there was a subtle transition towards tokenizing Treasury bills or generating blockchain alternatives for US government bonds.
I’ve gathered information from reliable sources that some members of Nasdaq’s crypto team have departed from the company recently. The number of individuals and the extent of layoffs are currently undisclosed. Some of these former team members have moved on to other organizations actively expanding in the cryptocurrency sector, while Nasdaq is reportedly proceeding cautiously as they deliberate their approach to supporting this industry.
Nasdaq declined to comment on its tokenization plans or staff departures.
As a financial analyst, I’ve noticed an exhilarating surge in the development of blockchain-based alternatives for conventional financial assets. For example, BlackRock, a leading player in asset management, has joined the bandwagon through its BUIDL platform.
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2024-05-15 18:52