Plans to store cryptocurrency and expand to other services

The second-largest stock exchange, Nasdaq Inc., is preparing to take advantage of the surging interest in digital currencies among wealthy investors by making its first significant foray into the space.

Auerbach to lead the new Nasdaq Digital Assets division

The new digital asset organization will initially provide 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.

“We think that widespread institutional acceptance will fuel the next wave of the revolution. The Nasdaq is the best venue, in my opinion, for bringing that trust and brand to market.

The technology Nasdaq provides to cryptocurrency security and law enforcement software companies has also been expanded. This includes the company’s Verafin & Surveillance products, which can assist banks and trading companies in the investigation and reporting of cases of money laundering, fraud, and manipulation.