The American Nasdaq exchange, Nasdaq, has today officially announced the establishment of new digital assets named “Nasdaq Digital Assets’. The new digital asset is a division of the company that will provide institutional investors with virtual currency custody services.
Providing Bitcoin and Ethereum Service Through Nasdaq Digital Assets
According to the firm, institutional investors will receive custody services for Bitcoin and Ethereum in the first phase. Likewise, the American exchange will increase other virtual currency-related services in the future; however, at this time, Nasdaq does not intend to create a virtual currency exchange right away, though they will assess potential.
Head of Nasdaq’s Digital Assets
Ira Auerbach, Senior Vice President and Head of Digital Assets, will serve as the team’s leader and be responsible for the strategy roadmap, growth objectives, and product development for Nasdaq Digital Assets. Auerbach has more than ten years of leadership expertise developing institutional-grade solutions and cutting-edge services for both traditional finance and digital assets.
From Gemini, where he held numerous executive positions in product, business development, and trading, Auerbach joined Nasdaq. PriBeforeis, he served as the Global Head of Gemini Prime, the leading prime brokerage for cryptocurrency platforms.
Delivering Institutional-Grade Solutions Based on Integrity and Transparency
Reacting to the new deforested, Adena Friedman, President, and CEO of Nasdaq, said the firm is focused on delivering institutional-grade solutions that bring greater liquidity, integrity, and transparency to support development.
On the other hand, Tal Cohen, Executive Vice President and Head of North American Markets at Nasdaq, said institutional investors need to participate in the new Nasdaq digital assets to accelerate wider adoption and drive availability of the assets.
“In recent years, the need for institutional investors to participate in digital assets has increased, and Nasdaq is well positioned to accelerate wider adoption and drive availability. Continued growth.” “With our trusted brand and proven track record as a global capital markets technology provider, Nasdaq is uniquely positioned to address industry pain points by improving liquidity, scalability and resilience, and goals. It is an ecosystem that enhances trust and confidence in digital assets.”