Connect with us

Hi, what are you looking for?


Nasdaq to offer crypto custody via new Digital Assets unit

Nasdaq Inc. is getting into the cryptocurrency space proper with a brand new digital assets unit targeting institutional investors, Tal Cohen, the firm’s Executive VP and Head of North American Markets said in an interview on Tuesday.

According to Cohen, Nasdaq has since 2021 looked to understand how best to increase institutional adoption of digital assets. 

And as part of their deep-dive into this, the stock exchange engaged crypto companies or platforms seeking to get in, with the goal of understanding pain points for institutional investors.

Nasdaq among Wall Street giant in crypto

The Nasdaq Digital Assets is a dedicated division whose development builds on the input and insight gathered from players within crypto and big-money investors who see the exchange as a trusted platform.

Initially, Nasdaq will only offer crypto custody services to clients, with services available for the top two cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). Future plans include extending the solution to liquidity provision and other key services to both traditional exchange clients and new markets, Cohen noted.

In the short term we want to continue to bring in great people to help us build this business,” the Nasdaq EVP said in reference to the company’s long term and short term outlook for digital assets. He added:

“We want to complete the build-out of our custody and liquidity solution. We are going to continue to work with the New York DFS to obtain that Trust license and will also engage potential clients as we head towards launch.”

Nasdaq is launching its Digital Assets division at a time when some of Wall Street’s largest companies are looking to provide more access to crypto to their clients.

Just recently, investment giant BlackRock announced a partnership with Coinbase to bring Bitcoin trading to its clients. And as we reported last week, Fidelity, Charles Schwab and Citadel Securities are among several Wall Street firms to launch a new crypto exchange dubbed EDX Markets.

As for its crypto custodian venture, Nasdaq Digital Assets will compete with financial companies such as State Street and BNY Mellon. In crypto, Anchorage Digital, Coinbase, and BitGo are some of the well-established custody providers.

The post Nasdaq to offer crypto custody via new Digital Assets unit appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.