Nasdaq to create digital asset custody services for institutions
Nasdaq is preparing to create its own crypto branch, which will provide special tools to ensure the security of crypto companies and offer digital asset custody services.
Previously, Nasdaq had already been selling the technologies for crypto exchanges, and in 2021, the company launched the Hashdex Nasdaq Crypto Index ETF, based on its own index.
According to informed sources, the new project is awaiting approval from regulatory authorities now. The company hired Ira Auerbach, the former head of Gemini Prime, in order to run the new branch.
The new project will allow Nasdaq to become one of the major players in the crypto market and compete with companies such as Coinbase and BitGo.
The company does not intend to offer cryptocurrency exchange services yet. However, according to Nasdaq’s Executive Vice President Tal Cohen, Nasdaq will offer tools to crypto companies to ensure the security of assets.
Nasdaq will also create Nasdaq Digital Assets, which will be focused on research in the field of digital asset custody. Representatives of the company said that the new branch will allow Nasdaq to provide customers with reliable solutions focused on liquidity and secure digital asset custody.
Many global companies are interested in developing in the crypto market. For example, Samsung is going to launch its own crypto exchange, and also leads in the number of investments in blockchain startups and crypto projects. Opera Software has recently integrated popular crypto wallets into its Web3-focused Opera Crypto Browser.