Nasdaq launches new digital assets business

New business will be led by former global head of Gemini Prime, Ira Auerbach.

Nasdaq has launched a new business aimed at powering the digital asset ecosystem, named Nasdaq Digital Assets.

The move comes as part of Nasdaq’s goal to advance and help facilitate wider institutional participation in digital assets by providing 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 of 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’s senior vice president, head of digital assets, Ira Auerbach, will lead Nasdaq Digital Assets and be responsible for the team’s strategic roadmap, growth targets and product development.

Auerbach brings more than a decade’s worth of leadership experience in building institutional-grade solutions and services across digital assets and traditional finance.

He joined Nasdaq from Gemini, where he served in a variety of executive positions across product, business development and trading. Most recently, Auerbach operated as global head of Gemini Prime, the crypto platform’s prime brokerage services.

He will report to Tal Cohen, executive vice president, North American markets.

“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 Cohen.