Nasdaq Inc is inserting an enormous guess on the cryptocurrency market, with the launch of a digital belongings enterprise that’s geared toward tapping institutional buyers.
The brand new unit, Nasdaq Digital Property, will supply custody providers for cryptocurrencies, together with bitcoin and ethereum, doubtlessly pitting it in opposition to companies reminiscent of Coinbase, Constancy Digital Property and Winkelvoss twin-owned Gemini that provide related merchandise.
Nasdaq has employed Ira Auerbach, a Gemini govt, to steer the brand new unit.
Additionally learn: Global crypto crash: Spot trading volumes on exchanges fall 27.5%
The inventory alternate has additionally expanded its anti-financial crime know-how to detect and curb cash laundering, fraud and market abuse dangers, it stated in an announcement on Tuesday, because the market is continually on the regulator’s radar.
The crypto market is reeling from a significant rout, forcing a few of its greatest gamers to put off hundreds of staff in a bid to chop prices. Bitcoin has crashed practically 60 per cent this 12 months, driving corporations reminiscent of Celsius Community and Voyager Digital Ltd to file for chapter.
Printed on
September 21, 2022
