
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.
