Skip to main content

Nasdaq Establishes Crypto Unit — Sees Increased Demand for Digital Assets Among Institutional Investors

Nasdaq has announced the launch of “Nasdaq Digital Assets” citing increased demand for digital assets among institutional investors in recent years. Initially, the new crypto unit will offer custody solutions for bitcoin and ether to institutional investors.

Nasdaq Establishes Crypto Unit

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 custody solution, the announcement details, adding:

Nasdaq’s custody solution will bring together the best attributes of hot and cold crypto wallets.

Tal Cohen, head of North American Markets at Nasdaq, told Bloomberg that the new crypto group will initially offer custody services for bitcoin (BTC) and ether (ETH) to institutional investors.

Ira Auerbach, who ran prime broker services at cryptocurrency exchange Gemini, will lead the new unit. Nasdaq’s offering is subject to regulatory approval in applicable jurisdictions.

Adena Friedman, president and CEO of Nasdaq, explained: “Nasdaq Digital Assets builds upon the successful solutions we have introduced in recent years to serve the digital assets ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products.”

Cohen noted:

Demand among institutional investors for engaging in digital assets has increased in recent years, and Nasdaq is well-positioned to accelerate broader adoption and drive sustainable growth.

Nasdaq also announced Tuesday the expansion of its “anti-financial crime technology with new capabilities and coverage for the cryptocurrency ecosystem.”

The company detailed:

Through its Verafin and Surveillance product offerings, Nasdaq has launched a comprehensive suite of crypto-specific detection capabilities.

The new tools will allow the company “to effectively mitigate risks and provide continuous monitoring of anti-money laundering, fraud detection, and market abuse across traditional and digital assets, fiat and crypto, and on- and off-chain activities,” the announcement notes.

“As the world of digital assets evolves and converges with traditional finance, it is crucial to provide the necessary portfolio of technology solutions designed to safeguard participants across the financial ecosystem,” said Jamie King, head of Anti-Financial Crime at Nasdaq.

What do you think about Nasdaq establishing a crypto unit? Let us know in the comments section below.



from Bitcoin News https://ift.tt/WgTf8oV
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more