Nasdaq Opens Crypto Custody Service To Institutions
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Nasdaq competes with other financial institutions to attract institutional investors.
In addition to offering crypto custody, the stock market operator is expanding its services.
It has hired Gemini alumnus Ira Auerbach to head its digital division.
Nasdaq, a major financial services company, announced on September 20, 2022 that it would be creating a new division to focus specifically on the cryptocurrency industry. Nasdaq Digital Assets is working to make it easier for more institutional investors to participate in the growing crypto markets. Nasdaq Inc. plans to capitalize on the growing interest of wealthy investors in cryptocurrencies by making a significant entry into the space. If Nasdaq became a custodian of digital assets, it would compete with other firms such as Coinbase and Anchorage Digital.
Nasdaq’s announcement of a new digital asset marketplace underlines the exchange’s commitment to fostering wider participation in the digital asset market by providing trusted solutions for custody, liquidity, and integrity.
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