First Crypto Exchange Using Nasdaq’s Tech Announces Launch, Excluding US Customers

The first cryptocurrency exchange to use US stock market giant Nasdaq's technology revealed it plans to launch next month in an exclusive with Finance Magnates Monday, May 14.

Nasdaq, the second largest stock exchange in world by market capitalization after the New York Stock Exchange (NYSE), is providing the technology to power the new centralized crypto exchange, DX, according to the project’s CEO Daniel Skowronski. Skowronski called the upcoming exchange a “one-stop-shop” for “exchanging fiat and crypto, holding coins and as well as wallet services.”

According to the report, DX will not charge fees for trading and will open trading with the market’s top six cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). At the second stage, the exchange reportedly plans to add 20-25 coins, as well as “smaller tokens,” Skowronski said, without specifying which particular crypto assets. Skowronski told Finance Magnates:

“We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed.”

Skowronski also reports that DX will not be available for US customers at launch, though the exchange is reportedly “in a dialogue” with US regulators.

Last month, Nasdaq CEO Adena Friedman said the company would “consider becoming” a crypto trading platform, if the market becomes more regulated.

Last week, multiple media outlets reported that the Intercontinental Exchange (ICE), the parent company of the NYSE, wants to let their customers buy and hold Bitcoin.