• February 27, 2024

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Nasdaq Intends to Launch a Crypto Custody Service for Institutional Clients

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Nasdaq has formed a digital asset-focused team to develop BTC and ETH custody solutions for institutional investors.

The platform has applied to the NYDFS for the provision of custodial services.

Ira Auerbach will become Senior Vice President and Head of Digital Assets. He was previously Director of Prime Brokerage Services at Gemini. Until the end of the year, 40 specialists will be under his command.

Tal Cohen, the company’s executive vice president and head of North American markets, has said:

“In addition to storage, we can start developing other solutions, offering execution services, providing liquidity.”

He has not ruled out the launch of a cryptocurrency exchange in the future, based on the regulatory environment and the competitive landscape.