Nasdaq Establishes New Digital Assets Business
September 20 2022 - 8:00AM
Nasdaq (Nasdaq: NDAQ) today announced the launch of “Nasdaq Digital
Assets,” a new business that will power the digital asset
ecosystem. The launch underpins Nasdaq’s ambition to advance and
help facilitate broader institutional participation in digital
assets by providing trusted and institutional-grade solutions,
focused on enhanced custody, liquidity and integrity.
“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
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.”
Nasdaq Digital Assets will initially develop an advanced custody
solution that will incorporate liquidity and execution services to
address industry challenges around connectivity, availability, and
efficiency. Nasdaq’s custody solution will bring together the best
attributes of hot and cold crypto wallets through an innovative
technology offering, which will provide a high degree of
accessibility and scalability without compromising security.
Nasdaq’s offering is subject to regulatory approval in applicable
jurisdictions.
“Demand among institutional investors for engaging in digital
assets has increased in recent years, and Nasdaq is well-positioned
to accelerate broader adoption and drive sustainable growth,” said
Tal Cohen, Executive Vice President and Head of North American
Markets, Nasdaq. “With our trusted brand and strong track record as
a technology provider for the global capital markets, Nasdaq is
uniquely placed to address industry pain points by improving
liquidity, scalability, and resiliency, with the goal to engender
greater trust and confidence in the digital assets ecosystem.”
Nasdaq Digital Assets will be led by Ira Auerbach, Senior Vice
President, Head of Digital Assets, who will oversee the team’s
strategic roadmap, growth targets, and product development.
Auerbach brings over a decade of leadership experience in building
institutional-grade solutions and innovative services across
digital assets and traditional finance. Auerbach joined Nasdaq from
Gemini, where he held several executive positions across product,
business development, and trading. Most recently he was the Global
Head of Gemini Prime, the crypto platform’s prime brokerage
services. He reports to Tal Cohen, Executive Vice President, North
American Markets.
Nasdaq Expands Anti-Financial Crime Technology
Capabilities for Digital Assets
The integrity of the digital landscape is key to realizing the
full potential of digital assets. Yet, cryptocurrency-based money
laundering activity reached $8.6 billion in 2021, a 30% increase
from 2020.1
To play a central role in combatting the rising threat of
financial crime across the digital assets financial landscape,
Nasdaq has expanded its anti-financial crime technology with new
capabilities and coverage for the cryptocurrency ecosystem. Through
its Verafin and Surveillance product offerings, Nasdaq has launched
a comprehensive suite of crypto-specific detection capabilities to
effectively mitigate risks and provide continuous monitoring of
anti-money laundering, fraud detection, and market abuse across
traditional and digital assets, fiat and crypto, and on- and
off-chain activities.
“Our expanded suite of anti-financial crime solutions reinforces
our commitment to protecting the integrity of the financial
system,” said Jamie King, Executive Vice President, Head of
Anti-Financial Crime, Nasdaq. “As the world of digital assets
evolves and converges with traditional finance, it is crucial to
provide the necessary portfolio of technology solutions designed to
safeguard participants across the financial ecosystem.”
About Nasdaq Nasdaq (Nasdaq:
NDAQ) is a global technology company serving the capital markets
and other industries. Our diverse offering of data, analytics,
software, and services enables clients to optimize and execute
their business vision with confidence. To learn more about the
company, technology solutions and career opportunities, visit us on
LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
Nasdaq Media Contact:Emily
Pan+1 (646) 637-3964Emily.Pan@nasdaq.com
Nasdaq Investor Contact:Ed
Ditmire, CFA+1 (212) 401-8737ed.ditmire@nasdaq.com
-NDAQG-
1 The Chainalysis 2022 Crypto Crime Report
https://go.chainalysis.com/2022-Crypto-Crime-Report.html
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