Gemini and Nasdaq Unite to Bridge Traditional Finance and Crypto Markets

Nasdaq has entered into a strategic partnership with Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, as the platform moves forward with its anticipated initial public offering. According to Reuters, Nasdaq has agreed to invest $50 million in Gemini through a private placement, which is part of a broader collaboration aimed at integrating Gemini’s custody and staking services with Nasdaq’s Calypso platform. The deal positions Nasdaq to provide institutional clients with access to Gemini’s services while offering Gemini’s institutional users the ability to leverage Nasdaq’s collateral management capabilities for tracking and managing trading margin [1].

The investment is tied to Gemini’s upcoming IPO, which is expected to raise up to $317 million. Nasdaq will serve as both the exchange and a strategic investor, with the offering anticipated to debut under the ticker GEMI. The timeline for the listing remains subject to market conditions, as noted by the sources. Gemini’s IPO would mark it as the third U.S.-listed crypto exchange, joining Coinbase and Bullish [2]. The move reflects a growing interest in the crypto space from traditional financial institutions, particularly as the U.S. equity capital markets show signs of a rebound following strong performances from recent IPOs.

In parallel, Nasdaq is also advancing its ambitions in tokenized securities. The exchange has filed with the U.S. Securities and Exchange Commission to amend existing securities rules to allow for the trading of tokenized assets. Nasdaq has expressed concerns over the lack of integration in tokenized markets, arguing that these products should be traded on established, regulated platforms rather than fragmented or siloed venues. This push aligns with the company’s broader strategy to modernize traditional financial infrastructure and facilitate the integration of blockchain technology into mainstream markets [1].

Meanwhile, Gemini is expanding its operations beyond the United States. The company recently launched new services for European investors, including staking for Ethereum and Solana, as well as Gemini Perpetuals, a regulated derivatives offering. These services are being introduced under European regulatory frameworks, with staking governed under the Markets in Crypto-Assets (MiCA) regulations and derivatives under MiFID II. The company emphasized that these products are designed to provide institutional-grade security and ease of access, with no minimum staking requirements and high yields for certain tokens [3].

Gemini’s CEO for Europe, Mark Jennings, highlighted the strategic importance of the EU in the company’s global expansion. With MiCA positioning the region to lead in crypto regulation, Gemini sees an opportunity to establish a strong foothold in a market that is increasingly open to innovative financial products. The firm’s expansion in Europe includes the introduction of perpetual contracts with leverage and the integration of staking services into its platform, further reinforcing its role as a one-stop shop for both retail and institutional investors [3].

The partnership between Nasdaq and Gemini underscores the growing convergence of traditional finance and crypto markets. As Gemini moves closer to its IPO, the collaboration is expected to enhance the accessibility of crypto custody and staking services while providing Nasdaq with a strategic stake in a rapidly evolving sector. The success of this partnership will depend on regulatory developments, market demand, and the ability to integrate complex blockchain services into mainstream financial infrastructure [2].

Source:

[1] Nasdaq invests Gemini crypto custody staking (https://cointelegraph.com/news/nasdaq-invests-gemini-crypto-custody-staking)

[2] Nasdaq to invest USD50 million in Winklevoss twins’ Gemini crypto exchange (https://www.coindesk.com/markets/2025/09/09/nasdaq-to-invest-usd50-million-in-winklevoss-twins-gemini-crypto-exchange-reuters)

[3] Gemini Launches Staking and Derivatives for EU Customers (https://www.gemini.com/blog/gemini-launches-staking-and-derivatives-for-eu-customers)