Nasdaq to offer crypto custody via new Digital Assets unit

Crypto Update
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Nasdaq Inc., happening in cryptocurrency space Tal Cohen, the firm’s executive VP and head of North American markets, said that with a new digital asset unit targeted at institutional investors, it would be appropriate Interview on Tuesday.

According to Cohen, since 2021, Nasdaq has tried to understand how to increase institutional adoption of digital assets.

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And as part of their deep dive into it, Share Market For institutional investors looking to get involved in cryptocurrency companies or platforms, with the goal of understanding the pain points.

Nasdaq Into Wall Street Giant In Crypto

Nasdaq Digital Assets is a dedicated division whose development is based on input and insight gathered from players in crypto and big money investors who view the exchange as a trusted platform.

Initially, Nasdaq will only provide crypto custody services to customers, with services for the top two cryptocurrencies bitcoin (bitcoin).B T c) and Ethereum (ETH) Cohen said future plans include expanding liquidity provisioning and other key services solutions for both traditional exchange clients and new markets.

,In the short term we want to continue to bring in great people to help build this businessThe Nasdaq EVP said in reference to the company’s long- and short-term outlook for digital assets. He added:

“We look to complete the creation of our custody and liquidity solution. We will continue to work with the New York DFS to obtain that trust license and include potential clients as we move towards the launch.”

Nasdaq is launching its digital assets division at a time when some of the biggest Wall Street companies are looking to give their customers greater access to cryptocurrency.

More recently, investment giant BlackRock announced A partnership with Coinbase to bring bitcoin trading to its customers. and as we informed of Last week, Fidelity, Charles Schwab and Citadel Securities are among several Wall Street firms that launched a new crypto exchange called EDX Markets.

For its crypto custodian venture, Nasdaq Digital Assets will compete with financial companies such as State Street and BNY Mellon. In crypto, Anchorage Digital, Coinbase and BitGo are some of the well established custody providers.

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