Nasdaq starts crypto custody service for institutional clients

Nasdaq (NDAQ), the second-largest U.S. stock market operator, is starting a cryptocurrency custody service as it aims to cash in on the demand from institutional crypto investors, according to a press release on Tuesday.

“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,” Tal Cohen, head of North American markets at Nasdaq, said in the release.