Nasdaq announced the launch of “NASDAQ Digital Assets” noting the increased demand for digital assets among institutional investors in recent years. Initially, the new crypto unit will offer custody solutions for bitcoin and ether to institutional investors.
Nasdaq establishes a crypto 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 enterprise-grade incubation solution, and details the announcement, adding:
Nasdaq custodian solution will combine the best features of hot and cold cryptocurrency wallets.
The new unit will be led by Ira Auerbach, who managed the services of the main broker in crypto exchange Gemini. The Nasdaq offering is subject to regulatory approval in applicable jurisdictions.
Adina Friedman, President and CEO of Nasdaq, explained: “Nasdaq Digital Assets builds on the successful solutions we have provided in recent years to serve the digital asset ecosystem, including market technology for digital asset exchanges, crypto-native financial crime prevention offerings, and crypto-related index solutions. for tradable products.
Demand among institutional investors to engage in digital assets has increased in recent years, and Nasdaq is well positioned to accelerate broader adoption and drive sustainable growth.
Nasdaq also announced on Tuesday that it is expanding its “financial crime-fighting technology with new capabilities and coverage for the cryptocurrency ecosystem.”
Through its Verafin and Surveillance product offerings, Nasdaq has launched a comprehensive suite of cryptocurrency detection capabilities.
The new tools will allow the company to “effectively mitigate risks and provide ongoing monitoring of anti-money laundering, fraud detection, and market abuse across traditional and digital assets, securities and crypto, and on- and off-chain activities.” Notes.
“As the world of digital assets evolves and converges with traditional finance, it is imperative that we provide the necessary portfolio of technology solutions designed to protect participants across the financial ecosystem,” said Jamie King, Head of Financial Crime Prevention at Nasdaq.
What do you think of creating a crypto unit on the NASDAQ stock exchange? Let us know in the comments section below.
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