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Latest News  + Alternative Assets  + Blockchain  + Crypto  + Financial Advisory  + Markets  |  October 28, 2022
Nasdaq is set to launch Nasdaq Digital Assets, a new business that intends to offer a proprietary digital custody solution
Joe Palmisano
By: Joe Palmisano

Nasdaq to Launch New Digital Assets Business 

Nasdaq is set to launch Nasdaq Digital Assets, a new business that intends to offer a proprietary digital custody solution as well as institutional liquidity and execution services. 

Pending approval by the New York Department of Financial Services, Nasdaq will become a custodian of digital assets, directly competing with centralized crypto giants including Coinbase, Anchorage Digital and BitGo. 

Nasdaq says its custody solution will combine the best of hot and cold crypto wallets, which translates into accessibility for both trading and as well as staking. 

“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,” Adena Friedman, president and CEO of Nasdaq, said. 

Nasdaq has made various investments in the crypto markets and institutional sector.  It was an investor in enterprise blockchain firm Symbiont and is the first non-bank participant in Fnality, the institutional settlement platform that uses tokens backed by central bank money.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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