Key takeaways:
- Global financial technology firm Nasdaq has launched Nasdaq Digital Assets, a new business dedicated exclusively to crypto assets
- Nasdaq Digital Assets will initially focus on providing crypto-related custody and security services
- According to the company, the launch of Nasdaq Digital Assets comes in response to investors’ growing demand for crypto products and services
US stock exchange giant launches crypto-oriented business called Nasdaq Digital Assets
Nasdaq, one of the leading financial firms and the owner and operator of 10 stock exchanges in the US and Europe, has announced the launch of Nasdaq Digital Assets, a new business designed to facilitate digital assets trading and custody.
Speaking about the launch, Nasdaq president and CEO Adena Friedman noted that the digital assets technology “has the potential to transform markets over the long-term,” which is why the financial company will focus on providing “institutional-grade solutions that bring greater liquidity, integrity, and transparency to support the evolution.”
An excerpt from Tuesday’s press release reads:
“The launch underpins Nasdaq’s 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.”
Nasdaq Digital Assets builds upon the company’s existing portfolio of crypto-oriented products and services, including a digital assets marketplace, crypto anti-crime offerings, and crypto index solutions. Initially, the newly-launched business will be focusing on an “advanced custody solution,” using a combination of hot and cold blockchain wallets.
Executive Vice President and Head of North American Markets at Nasdaq, Tal Cohen, explained in a statement that the launch of a purely crypto-oriented business is a result of growing institutional investor demand. “Nasdaq is well-positioned to accelerate broader adoption and drive sustainable growth [of digital assets],” explained Cohen.
In conjunction with the launch of Nasdaq Digital Assets, the company has also announced an overhaul of its anti-financial crime technology for digital assets. Per a recent Chainalysis report, crypto-powered money laundering hit $8.6 billion in 2021, which was 30% higher than in 2020.
