Nasdaq (NASDAQ:NDAQ) has introduced its new digital assets business Tuesday to offer bitcoin (BTC-USD) and ethereum (ETH-USD) custody services for institutional clients in a major push into cryptocurrencies. The company welcomed Ira Auerbach, the former global head of crypto prime brokerage Gemini Prime, to lead the so-called Nasdaq Digital Assets division. Serving as senior vice president, head of Digital Assets, Auerbach will oversee the team's strategic roadmap, growth targets, and product development, it said. Nasdaq Digital Assets' launch followed the stock exchange's introductions of digital asset-focused solutions in recent years, "including marketplace technology for digital asset exchanges, crypto-native anti-financial crime offerings, and crypto-related index solutions for tradable products,” said Nasdaq CEO and President Adena Friedman.The move comes as institutional demand "for engaging in digital assets has increased in recent years," said Tal Cohen, Nasdaq's executive vice president and head of North American markets. Indeed, Wall Street giants are making big moves in the crypto space despite a market downturn that has persisted since last year. A recent example of that was BlackRock's (BLK) partnership with crypto exchange Coinbase Global (COIN) to enable its institutional clients to trade bitcoin (BTC-USD). That was followed by the asset manager's unveiling of its first-ever private trust offering direct bitcoi...
