Nasdaq seeks access to Gemini’s crypto services via investment: Report
Gemini has secured Nasdaq as an investor in its $317 million IPO, with Nasdaq purchasing $50 million in shares as part of a strategic partnership.
US stock exchange giant Nasdaq has reportedly formed a strategic partnership with Winklevoss-founded crypto exchange Gemini to gain access to its custody and staking services.
Gemini has secured Nasdaq as a strategic investor as the company moves forward with its initial public offering (IPO) debut on the stock exchange, Reuters reported on Tuesday, citing sources familiar with the matter.
The crypto exchange expects to raise up to $317 million through the IPO and has arranged for Nasdaq to purchase $50 million in shares via a private placement concurrent with the offering, the sources said.