Nasdaq Inc. is open to becoming a cryptocurrency exchange over time as the regulation smoothens and the crypto space gets matured, its CEO Adena Friedman said.
The exchange operator in the meantime has entered into crypto market with a recent technology collaboration with cryptocurrency exchange Gemini Trust Co., founded by Tyler and Cameron Winklevoss.
While talking at CNBC's Squawk Box, Friedman said, "I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it."
"If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors," she said.
Regarding Initial Coin Offerings or ICOs, the online fundraising process for crypto trading, Friedman said she considers those to be securities, just as SEC, and needs to be regulated.
In March, the Securities and Exchange Commission had asked digital currency exchanges to register as the regulator is taking strict stand against cryptocurrencies aiming to better control such trading platforms and exchanges. SEC Chief Jay Clayton often has expressed concerns about cryptocurrencies and ICOs.
Regarding the technology deal, Gemini in a statement, said it will leverage Nasdaq's SMARTS Market Surveillance technology, which is considered the most widely deployed surveillance system, to monitor across all of its trading pairs, including: BTC/USD, ETH/USD and BTC/ETH.
SMARTS will also surveil activity across the Gemini auction process that is used to determine the settlement price for the Bitcoin XBT futures contracts that trade on Cboe's CFE Exchange.
Nasdaq's Valerie Bannert-Thurner then said, "Gemini has been a leading voice in advocating for stronger transparency and thoughtful regulation of the cryptocurrency markets - views we deeply share and have put into practice as a market operator and technology partner. ...an important indicator of our commitment to expand the use of our market technology into non-traditional marketplaces, as well as new frontiers beyond the capital markets."
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