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setting iconIndustry DisruptionAnnounced

Nasdaq Plans To Launch Digital Asset Custody Service

Milestone Date: September 20, 2022

Digital Asset Custody

Nasdaq has announced plans to launch a digital asset custody business with a focus on advancing broader institutional adoption of digital assets. The new division, called Nasdaq Digital Assets, will offer a proprietary digital custody solution as well as institutional liquidity and execution services.

Nasdaq says that the move is part of its strategy to serve the digital assets ecosystem and embrace the evolution of financial markets. The digital asset custody market is growing rapidly, as more and more institutions are looking to store and manage their cryptocurrency holdings. Nasdaq is hoping to get in on the growth of digital assets by offering a secure and compliant custody solution for institutional investors.

“Nasdaq Digital Assets builds upon the successful solutions we have introduced in recent years to serve the digital assets ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products,” said Adena Friedman, President and Chief Executive Officer, Nasdaq.

The new division will be led by Ira Auerbach, Senior Vice President, Head of Digital Assets. Auerbach has over a decade of experience building institutional-grade solutions and innovative services in digital assets as well as traditional finance.

Nasdaq's entry into the digital asset custody market is a significant development and it is likely to accelerate the adoption of cryptocurrencies by institutional investors. The company has a strong track record of innovation and it is well-positioned to become a leading provider of digital asset custody services.

By Elizabeth Morrison

Published:September 20, 2022

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Nasdaq launches digital assets business starting with custody

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