Reuters: Nasdaq plans to acquire a $50 million stake in Gemini through a private placement

ChainCatcher news, according to Reuters, the cryptocurrency exchange platform Gemini Space Station has secured Nasdaq as a strategic investor as the company plans to go public in New York. Sources indicate that Gemini could raise up to $317 million through an initial public offering (IPO) and has arranged for Nasdaq to purchase $50 million in shares privately at the time of the IPO.

This investment will enable Nasdaq's clients to utilize Gemini's custody and staking services. Gemini's institutional clients will also be able to use Nasdaq's Calypso platform to manage and track trading collateral. Gemini is expected to begin trading on Nasdaq under the ticker "GEMI" on Friday. Sources warn that the company's plans are subject to market conditions and may change. Gemini's IPO comes at a time when the U.S. equity capital markets are recovering, with strong demand for new listings, and impressive first-day performances attracting more private companies to test market interest.