Nasdaq, the leading U.S. exchange, has unveiled a Nasdaq Digital Assets subsidiary. In a statement released today, Nasdaq explains that it is a new unit that will offer crypto-focused services to institutions by starting with a custody solution.
While several Wall Street giants, like BlackRock, have recently dipped into crypto, Nasdaq is also preparing to launch dedicated services for the new asset class.
Nasdaq to promote “broader institutional adoption of digital assets
NASDAQ (National Association of Securities Dealers Automated Quotation System) is the second largest stock exchange in the United States after the New York Stock Exchange. It is a financial market like any other, i.e. a place to trade (buy or sell) securities, the particularity comes from the fact that continuous trading is done on several servers grouped in a single room.
Nasdaq already offers services and solutions for monitoring specialized markets for cryptos but it seems to be ready to go a little further.
Subject to regulatory approval, Nasdaq Digital Assets will kick off with the launch of a crypto-custody solution and liquidity and execution services for financial institutions. According to the announcement, the custodial solution will “bring together the best attributes of hot and cold wallets.”
The technology behind the digital asset ecosystem has the potential to transform markets over the long term. To capture this opportunity, our goal will be to provide institutional-grade solutions that bring greater liquidity, integrity and transparency to support the evolution,” commented Adena Friedman, president of Nasdaq.
It is learned that former Gemini Prime crypto exchange director Ira Auerbach will lead Nasdaq Digital Assets’ operations.