Nasdaq Establishes Crypto Unit — Sees Increased Demand for Digital Assets Among Institutional Investors – Finance Bitcoin News

Nasdaq announced the launch of “Nasdaq Digital Assets” citing the increased demand for digital assets by institutional investors in recent years. Initially, the new cryptocurrency unit will provide bitcoin and ether custody solutions to institutional investors.

Nasdaq establishes cryptocurrency unit

Nasdaq (Nasdaq: NDAQ), the world’s second-largest stock exchange, announced Tuesday the launch of a new business called “Nasdaq Digital Assets”. Initially, Nasdaq Digital Assets will develop an institutional-grade custody solution, the announcement detailed, adding:

Nasdaq custodial solution will bring together the best attributes of hot and cold crypto wallets.

Tal Cohen, head of North American Markets at Nasdaq, told Bloomberg that the new crypto group will initially offer bitcoin custody (BTC) and ether (ETH) for institutional investors.

Ira Auerbach, who runs top brokerage services at crypto exchange Gemini, will lead the new unit. Nasdaq offers are subject to regulatory approval in applicable jurisdictions.

Adena Friedman, president and CEO of Nasdaq, explains, “The Nasdaq Digital Asset builds on the successful solutions we’ve introduced in recent years to serve the ecosystem. digital assets, including market technology for digital asset exchange, crypto-based financial crime services, and crypto-related index solutions for products tradeable. “

Cohen notes:

Institutional investor demand for participation in digital assets has increased in recent years, and Nasdaq is well-positioned to accelerate wider adoption and drive sustainable growth. .

On Tuesday, Nasdaq also announced the expansion of “financial crime-fighting technology with new capabilities and coverage for the crypto ecosystem.”

Company details:

Through its Verafin and Surveillance product offerings, Nasdaq has launched a comprehensive suite of crypto-specific detection capabilities.

The new tools will allow the company to “effectively reduce risk and provide ongoing monitoring of anti-money laundering, fraud detection and market abuse across digital and traditional assets. systems, fiat and cryptocurrencies as well as on-chain and off-chain activities,” the notice notes.

Jamie King, head of Financial Crimes at Nasdaq, said: “As the world of digital assets evolves and converges with traditional finance, it is important to provide a portfolio of solutions. necessary technological measures to protect participants across the financial ecosystem.”

What do you think about Nasdaq establishing a cryptocurrency unit? Let us know in the comments section below.

Kevin Helms

An Austrian Economics student, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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