Nasdaq has introduced the launch of “Nasdaq Digital Assets” citing elevated demand for digital belongings amongst institutional buyers in recent times. Initially, the brand new crypto unit will provide custody options for bitcoin and ether to institutional buyers.
Nasdaq Establishes Crypto Unit
Nasdaq (Nasdaq: NDAQ), the world’s second-largest inventory alternate, introduced Tuesday the launch of a brand new enterprise referred to as “Nasdaq Digital Assets.” Initially, Nasdaq Digital Assets will develop an institutional-grade custody resolution, the announcement particulars, including:
Nasdaq’s custody resolution will carry collectively one of the best attributes of cold and hot crypto wallets.
Tal Cohen, head of North American Markets at Nasdaq, advised Bloomberg that the brand new crypto group will initially provide custody companies for bitcoin (BTC) and ether (ETH) to institutional buyers.
Ira Auerbach, who ran prime dealer companies at cryptocurrency alternate Gemini, will lead the brand new unit. Nasdaq’s providing is topic to regulatory approval in relevant jurisdictions.
Adena Friedman, president and CEO of Nasdaq, defined: “Nasdaq Digital Assets builds upon the successful solutions we have introduced in recent years to serve the digital assets ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products.”
Cohen famous:
Demand amongst institutional buyers for participating in digital belongings has elevated in recent times, and Nasdaq is well-positioned to speed up broader adoption and drive sustainable development.
Nasdaq additionally introduced Tuesday the enlargement of its “anti-financial crime technology with new capabilities and coverage for the cryptocurrency ecosystem.”
The firm detailed:
Through its Verafin and Surveillance product choices, Nasdaq has launched a complete suite of crypto-specific detection capabilities.
The new instruments will enable the corporate “to effectively mitigate risks and provide continuous monitoring of anti-money laundering, fraud detection, and market abuse across traditional and digital assets, fiat and crypto, and on- and off-chain activities,” the announcement notes.
“As the world of digital assets evolves and converges with traditional finance, it is crucial to provide the necessary portfolio of technology solutions designed to safeguard participants across the financial ecosystem,” stated Jamie King, head of Anti-Financial Crime at Nasdaq.
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