Nasdaq - Reuters

Welcome Nasdaq : Nasdaq Rolls Out Cryptocurrency Service Focused on Institutional Investors

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Welcome Nasdaq : Nasdaq Rolls Out Cryptocurrency Service Focused on Institutional Investors:

The renowned financial service giant announced today the formation of a new unit dedicated to the growing cryptocurrency industry,  with the aim of facilitating the entrance of more institutional participants wanting to explore the asset class.

Nasdaq - Reuters
Nasdaq – Reuters

Bloomberg first reported, indicating that Nasdaq hired Gemini’s former broker services head – Ira Auerbach – to head the new department, citing Tal Cohen – the Wall Street giant’s executive vice president.

Also, according to the press release from the company, the new product “underpins” its ambition to

 “advance and help facilitate broader institutional participation in digital assets by providing trusted and institutional-grade solutions, focused on enhanced custody, liquidity, and integrity.”

The aforementioned features thrives towards the industry challenges around availability, efficiency, and connectivity, the PR said.

Nasdaq also promised an innovative tech offering that will “provide a high degree of accessibility and scalability without compromising security,” which will “bring together the best attributes of hot and cold crypto wallets.”

Nevertheless, the company said its latest product will still need to adhere to regulatory standards in applicable jurisdictions.

Cohen also noted the growing demand for crypto related services by institutions and large investors and affirmed that his company is “well-positioned to accelerate broader adoption and drive sustainable growth.”

“The technology that underpins the digital asset ecosystem has the potential to transform markets over the long-term. To deliver on that opportunity, our focus will be to provide institutional-grade solutions that bring greater liquidity, integrity, and transparency to support the evolution.” – said President and CEO of Nasdaq – Adena Friedman.

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