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Nasdaq Rolls Out Cryptocurrency Service Focused on Institutional Investors

The half-a-century-old monetary service big introduced right now the formation of a brand new unit devoted to the rising cryptocurrency business.

Dubbed Nasdaq Digital Assets, it goals to facilitate the doorway of extra institutional members eager to discover the asset class.

  • Bloomberg first broke the story, indicating that Nasdaq employed Gemini’s former dealer companies head – Ira Auerbach – to run the brand new division, citing Tal Cohen – the Wall Street big’s government vp.
  • The follow-up press release from the corporate reads that the brand new product “underpins” its ambition to “advance and assist facilitate broader institutional participation in digital belongings by offering trusted and institutional-grade options, targeted on enhanced custody, liquidity, and integrity.”
  • The aforementioned options intention to deal with a few of the business challenges round availability, effectivity, and connectivity, the PR mentioned.
  • Nasdaq additionally promised an modern tech providing that may “present a excessive diploma of accessibility and scalability without compromising safety,” which can “convey collectively the most effective attributes of cold and warm crypto wallets.”
  • Nevertheless, the corporate mentioned its latest product will nonetheless have to obtain regulatory approval in relevant jurisdictions.
  • Cohen additionally outlined the rising demand for cryptocurrency companies by establishments and huge traders and famous that his firm is “well-positioned to speed up broader adoption and drive sustainable progress.”

“The expertise that underpins the digital asset ecosystem has the potential to rework markets over the long-term. To ship on that chance, our focus will probably be to supply institutional-grade options that convey better liquidity, integrity, and transparency to assist the evolution.” – mentioned President and CEO of Nasdaq – Adena Friedman.

The post Nasdaq Rolls Out Cryptocurrency Service Focused on Institutional Investors appeared first on CryptoPotato.

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