Nasdaq will purchase a $50 million stake in Gemini through a private sale.

BlockBeats news, on September 9, according to Reuters, two insiders revealed that the cryptocurrency trading platform Gemini Space Station has secured Nasdaq as a strategic investor, as the company plans to go public in New York this week. The insiders stated that Gemini could raise up to $317 million through an IPO and has arranged for Nasdaq to purchase $50 million worth of shares privately during the IPO. Since the agreement has not been made public, the insiders requested anonymity. This investment is part of a collaboration that will allow Nasdaq's clients to use Gemini's custody and staking services, the insiders said. 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. The insiders warned 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 market is recovering, with strong demand for newly listed companies. The impressive first-day performance has also encouraged more private companies to test investor interest.