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Nasdaq Makes First Big Crypto Push to Lure Institutional Clients

  • Firm hired Gemini alum Ira Auerbach to run digital division
  • Plans to offer crypto custody and expand to other services

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.