[ad_1]
Nasdaq Inc. is making its first major push into crypto, as the second-largest stock exchange prepares to capitalize on increasing appetite for digital currencies among big-money investors.
A new group dedicated to digital assets will initially offer custody services for Bitcoin and Ether to institutional investors, according to Tal Cohen, the company’s executive vice president and head of North American markets. Nasdaq hired Ira Auerbach, who ran prime broker services at crypto exchange Gemini, to head up the new Nasdaq Digital Assets unit.
Wall Street’s biggest firms are deepening their involvement as institutional investor interest persists despite a downturn that cost jobs and depressed prices. BlackRock Inc. partnered with Coinbase Global Inc. to make it easier for investors to trade Bitcoin and shortly after offered its first investment product directly in the token. EDX Markets, a new exchange backed by Charles Schwab Corp., Fidelity Digital Assets, Citadel Securities and Virtu Financial among others, will start trading some tokens this year.
“We believe this next wave of the revolution is going to be driven by mass institutional adoption,” Auerbach said in an interview. “I can think of no better place to bring that trust and brand to the market than Nasdaq.”
As a custodian of digital assets — a step which is pending approval from the New York Department of Financial Services — Nasdaq would be competing with crypto firms such as Coinbase, Anchorage Digital and BitGo. A small number of financial firms, including BNY Mellon and State Street, also provide crypto custody for institutions, although a recent Securities and Exchange Commission accounting guideline has made holding tokens on behalf of clients more capital intensive.
“Custody is foundational,” Cohen said in an interview. “Off the back of custody, we can start to develop other solutions, offer execution services, liquidity services, and think about how we support new markets.”
While Nasdaq has no immediate plans to launch a crypto exchange, it will evaluate the opportunity based on the regulatory environment and competitive landscape, Cohen said.
Nasdaq has been focused on diversifying its revenue sources beyond the exchange business where shares in public companies trade. It’s made investments in software, data and other offerings. The company also outsources its own software to crypto players, including surveillance and trading tools. It already provides matching engine technology to crypto exchanges such as Bitstamp.
Rules of the Road
Still, Nasdaq’s overall approach to the space has been more cautious because of questions around regulation, Chief Executive Officer Adena Friedman said in a May Bloomberg interview. But regulation can also provide opportunity, according to Cohen.
“We know how to operate under regulatory regimes, and we continue to innovate under the rules of the road,” Cohen said. “Embracing regulation as it comes is something we do. And institutions want us to operate under that framework.”
Nasdaq is also open to exploring partnerships and deal opportunities with crypto-native firms, though has no plans in the short-term to make an acquisition, said Auerbach, who will be senior vice president and head of digital assets, reporting to Cohen. The team is looking to build internally and hire externally, reaching 40 people by year-end, he said.
Nasdaq also expanded the technology it offers crypto companies tied to protection and anti-crime software including through the company’s Verafin and Surveillance product, which can help investigate and report instances of money laundering, fraud and manipulation for banks and trading firms.
[ad_2]
Source link
buy cialis on line Findings noted on the above external nasal exam are corroborated with soft tissue cephalometric analysis of life size photographs
decreasing sodium and potassium levels d cialis coupons 7 10 10, diastolic blood pressure ОІ 0
Wilson 2003 priligy 30mg
To increase your chances of pregnancy, have sex every other day around the day you ovulate viagra without prescription Ulcers Bergamot, cinnamon bark, clove, elemi, frankincense, geranium, German chamomile, lemon, myrrh, oregano, rose, thyme, vetiver
viagra and heart arrhythmia Clomid is very inexpensive and widely available, as PP have mentioned
allergy pills for rash behind the counter allergy medicine claritin allergy sinus 12hr costco
order prednisone 20mg sale prednisone 10mg usa
meds to treat heartburn order bactrim 480mg without prescription
neurontin 800mg without prescription neurontin order online
synthroid 75mcg usa synthroid 150mcg for sale synthroid 100mcg brand
oral vardenafil 10mg levitra for sale online
buy tizanidine for sale buy tizanidine 2mg buy generic zanaflex online
order deltasone online order deltasone pills deltasone without prescription
order albuterol 4mg sale order ventolin for sale order antihistamine pills
amoxil 500mg pills order amoxil amoxil for sale
azithromycin online order order azithromycin online azithromycin 250mg pill
purchase synthroid pills where can i buy synthroid order levothyroxine generic
prednisolone 5mg over the counter omnacortil 20mg pill prednisolone 20mg tablet
brand furosemide 100mg order generic lasix 100mg lasix 40mg for sale
order generic rybelsus 14mg order semaglutide 14mg generic oral semaglutide 14mg
acticlate cheap doxycycline 200mg ca buy doxycycline 100mg online
buy levitra 20mg generic order generic vardenafil 20mg buy levitra generic
casino games online real money play poker online for real money red dog casino
order hydroxychloroquine 200mg online cheap buy plaquenil 200mg sale generic plaquenil 200mg
lyrica 150mg for sale buy pregabalin generic where can i buy pregabalin
order aristocort 4mg pill order triamcinolone 4mg triamcinolone 10mg brand
order cenforce purchase cenforce without prescription buy cenforce no prescription
clarinex online order desloratadine 5mg over the counter desloratadine tablet
chloroquine usa buy aralen buy aralen pills
loratadine 10mg without prescription order claritin online cheap order loratadine 10mg for sale
glucophage for sale metformin 1000mg cost order glucophage
order generic priligy 90mg priligy drug cheap cytotec 200mcg
buy generic xenical 60mg buy xenical 60mg without prescription diltiazem drug
buy lipitor for sale atorvastatin 10mg uk purchase atorvastatin generic
norvasc 10mg pill generic amlodipine 5mg norvasc online
order generic zestril 10mg prinivil order buy lisinopril 10mg pills
cost crestor 20mg buy crestor 20mg pill zetia ca
oral motilium 10mg buy tetracycline oral sumycin
order metoprolol 100mg sale buy metoprolol 100mg online lopressor over the counter
cyclobenzaprine 15mg us flexeril canada buy lioresal no prescription
order atenolol online cheap buy generic atenolol order tenormin online
buy toradol tablets toradol 10mg pills order colcrys without prescription
methylprednisolone oral medrol online order depo-medrol pill
academic writers online thesis website write essay for money
buy propranolol tablets buy inderal 10mg online cheap clopidogrel 150mg generic
buy generic methotrexate for sale order warfarin pills buy coumadin 5mg for sale
mobic 15mg pills meloxicam 15mg cheap buy celecoxib tablets
order tamsulosin 0.2mg without prescription celebrex where to buy celebrex 200mg uk
buy generic nexium 20mg buy topiramate 100mg sale topiramate brand
ondansetron 8mg brand zofran online buy order spironolactone without prescription
buy imitrex 50mg generic imitrex 50mg brand order levofloxacin 250mg pill
buy zocor 20mg order valacyclovir pills valacyclovir 1000mg usa
buy avodart generic buy zantac 150mg online cheap order ranitidine online cheap
ampicillin pills purchase amoxil pill cheap amoxicillin
ciprofloxacin cost – buy cephalexin online cheap order amoxiclav pills
order ciprofloxacin pill – cheap cephalexin 125mg clavulanate over the counter
flagyl 400mg over the counter – buy cleocin tablets buy azithromycin 500mg online
buy generic ciprofloxacin online – cheap chloramphenicol sale purchase erythromycin for sale
valtrex uk – order diltiazem sale buy generic zovirax online
stromectol order – sumycin 500mg without prescription buy generic sumycin 500mg
metronidazole oral – buy azithromycin 250mg generic azithromycin 500mg cost
buy generic ampicillin purchase vibra-tabs generic buy amoxicillin online
buy lasix tablets – furosemide 40mg oral captopril 25mg drug
glycomet without prescription – buy glycomet pill buy lincomycin pills for sale
buy clozaril – cheap ramipril 5mg order famotidine