Nasdaq CEO Adena Friedman disclosed that the firm was losing its plans for a crypto custody carrier.

In a Wednesday earnings name, Friedman cited “the shifting replace and regulatory atmosphere in the U.S” because the motive in the abet of the choice to stay its efforts to note the major license from the Contemporary York Department of Monetary Products and providers (NYDFS).

In March, Bloomberg reported that the enviornment securities marketplace’s plans to open a crypto custody carrier could well well presumably be rolled out by the second quarter of 2023, joining financial giants BNY Mellon and Constancy which could well well presumably be already in the replace of custody providers for digital sources.

Even supposing the firm is now preserving off on its crypto custody offering, it intends to boost the replace in a big selection of ways, Friedman talked about. This contains partnerships with capability replace traded fund (ETF) issuers fancy BlackRock, which named Nasdaq as its itemizing replace partner in its filing for a predicament Bitcoin ETF final month.

Nasdaq furthermore looks to be positioning its digital asset custody infrastructure as person that could well even be presumably constructed-in with recent crypto companies.

“We proceed to put and bring abilities capabilities that whisper Nasdaq as a number one digital sources utility alternatives provider to the broader world replace. This contains advancing our custody solution as a abilities platform to support the broader, world digital sources marketplace,” talked about Friedman in the earnings name.

Meanwhile, the six applications for a predicament Bitcoin ETF, including BlackRock’s, had been added to the Federal Register this week, atmosphere elements in time in motion for the U.S. Securities and Trade Commission (SEC) to construct a name on whether to approve or reject them.