Nasdaq Will Soon Launch Institutional Crypto Custody Service

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Last Updated on September 20, 2022 by Bitfinsider

Nasdaq is a company that operates in the markets for US and global equities and was previously associated with non-traditional financial markets.

For the past few years, it has provided market surveillance technology to crypto exchange firms.

The exchange platform announced the launch of the Hashdex Nasdaq Crypto Index ETF earlier this year, which was based on Nasdaq’s own index.

Nasdaq’s strategy is to first develop an advanced custody solution before introducing liquidity and execution services, which will address the industry’s subsequent challenges.

They specifically address connectivity, availability, and efficiency issues.

The operator’s custody solution is intended to bring together all of the best features of crypto wallets through the use of innovative technological offerings.

This, in turn, should provide a high level of accessibility and scalability while maintaining security.

The exchange operator’s offering is subject to regulatory approval in the relevant jurisdictions.

Growth in the cryptocurrency industry, combined with an increase in the number of investors involved in the digital asset industry, has prompted Nasdaq to accelerate this plan for the purpose of broader crypto adoption.

This cryptocurrency custody service is a step closer to ensuring the space’s long-term growth.

Tal Choen, Nasdaq-listed Executive Vice President and Head of North American Markets,

Nasdaq is uniquely positioned to address industry pain points by improving liquidity, scalability, and resiliency, with the goal of engendering greater trust and confidence in the digital assets ecosystem, thanks to our trusted brand and strong track record as a technology provider for global capital markets.

The team will be led by Ira Auerbach, Senior Vice President and Head of Digital Assets.

Auerbach will oversee the team’s strategic roadmap, product development, and growth objectives.

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