Nasdaq has announced the launch of “Nasdaq Digital Assets” citing the demand for digital assets among institutional investors in recent years. Initially, the new crypto division will offer protection solutions for bitcoin and ether to institutional investors.
Nasdaq established a Crypto division
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 security solution, the announcement details, adding:
Nasdaq’s protection solution brings together the best features of hot and cold crypto wallets.
Tal Cohen, head of North American markets at Nasdaq, told Bloomberg that the new crypto group will initially provide protection services for bitcoin (BTC) and ether (ETH) to institutional investors.
Ira Auerbach, who ran prime brokerage services at cryptocurrency exchange Gemini, will lead the new division. The Nasdaq Offering may be subject to regulatory approval in applicable jurisdictions.
Nasdaq President and CEO Adena Friedman explained: “Nasdaq Digital Assets builds on the successful solutions we have delivered in recent years to serve the digital assets ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto Linked indexing solutions for marketing products.
Interest in digital assets has increased among institutional investors in recent years, and Nasdaq is well positioned to accelerate widespread adoption and drive sustainable growth.
Nasdaq announced Tuesday that it has expanded its “anti-financial crime technology with new capabilities and coverage for the cryptocurrency ecosystem.”
The company details:
With Verafin and its tracking product offerings, Nasdaq has launched a comprehensive suite of crypto-specific detection capabilities.
The new tools allow the company to effectively mitigate risks and perform anti-money laundering, fraud detection and continuous monitoring of traditional and digital assets, fiat and crypto, and on- and off-chain activities. Notes.
“As the world of digital assets continues to evolve with traditional finance, it is imperative to provide the necessary technology solutions designed to protect participants in the financial ecosystem,” said Jamie King, head of anti-financial crime at Nasdaq.
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