Supports Nasdaq’s focus on driving market transformation and fostering broader institutional adoption of digital assets
Subject to regulatory approval, Nasdaq Digital Assets offers a unique custody solution with liquidity and execution services for financial institutions
Former Global Head of Gemini Prime, Ira Auerbach Appointed Head of New Business
Expanding financial crime prevention technology capabilities for digital assets
NEW YORK, Sept. 20, 2022 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced the launch of “Nasdaq Digital Assets,” a new business that will strengthen its digital asset ecosystem. The launch will facilitate and facilitate broader institutional participation in digital assets by providing trusted institutional-level solutions focused on enhancing control, liquidity and integrity Supporting NASDAQ’s ambitions.
“Nasdaq Digital Assets has recently been introduced to serve the digital asset ecosystem, including marketplace technology for digital asset exchanges, crypto-native anti-financial crime products, and crypto-related index solutions for tradable products. It builds on the successful solutions we have developed,” said Adena Friedman, Nasdaq President and Chief Executive Officer. “The technology that underpins the digital asset ecosystem has the potential to transform the market in the long term. To realize that opportunity, our focus is on liquidity, integrity and To provide an agency-level solution that increases transparency.”
Nasdaq Digital Assets will be the first to develop advanced custody solutions incorporating liquidity and execution services to address the industry’s challenges of connectivity, availability and efficiency. Nasdaq’s custody solution brings together the best attributes of hot and cold crypto wallets through innovative technology offerings that offer a high degree of accessibility and scalability without compromising security. Any Nasdaq offering is subject to regulatory approvals in the applicable jurisdictions.
Tal Cohen, Executive Vice President and Head of North American Markets, Nasdaq. “With our trusted brand and strong track record as a technology provider to the global capital markets, Nasdaq will improve liquidity, scalability and resilience with the goal of creating greater trust and confidence in digital assets. We are uniquely positioned to address a pain point in the industry by enabling the ecosystem.”
Nasdaq Digital Assets will be led by Senior Vice President and Head of Digital Assets, Ira Auerbach, who will oversee the team’s strategic roadmap, growth objectives and product development. Auerbach brings over a decade of leadership experience in building institutional-level solutions and innovative services across digital assets and traditional finance. Auerbach joined Nasdaq from Gemini, where he held several executive positions in product, business development, and trading. Most recently, he was the Global Head of Gemini Prime, a prime brokerage service for cryptocurrency platforms. He reports directly to Tal Cohen, Executive Vice President of North American Markets.
Nasdaq Expands Financial Crime Prevention Technology Capabilities for Digital Assets
The integrity of your digital landscape is key to realizing the full potential of your digital assets. Still, cryptocurrency-based money laundering activity will reach $8.6 billion in 2021, up 30% from 2020.1
To play a central role in combating the growing threat of financial crime across the digital asset financial landscape, Nasdaq has expanded its anti-financial crime technology with new capabilities and coverage of the cryptocurrency ecosystem. Through its Verafin and Surveillance product offerings, Nasdaq effectively mitigates risk and helps prevent money laundering, fraud detection, and ongoing market abuse across traditional and digital assets, fiat and cryptocurrencies. We have launched a comprehensive suite of crypto-specific detections to provide oversight. On-chain and off-chain activities.
Jamie King, executive vice president and head of anti-financial crime at Nasdaq, said: “As the world of digital assets evolves and converges on traditional finance, it is important to provide the necessary portfolio of technology solutions designed to protect participants across the financial ecosystem.”
About NASDAQ
Nasdaq (Nasdaq: NDAQ) is a global technology company serving capital markets and other industries. Our diverse offerings of data, analytics, software and services enable our customers to optimize and execute their business vision with confidence. For more information about our company, technology solutions and career opportunities, visit us on LinkedIn, Twitter @Nasdaq or www.nasdaq.com.
Nasdaq Media Contact:
Emily Pan
+1 (646) 637-3964
Emily.Pan@nasdaq.com
Nasdaq Investor Contact:
Ed Dithmire, CFA
+1 (212) 401-8737
ed.ditmire@nasdaq.com
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1 Chainalysis 2022 Crypto Crime Report https://go.chainalysis.com/2022-Crypto-Crime-Report.html
