Offchain Labs has announced it hired Ira Auerbach, the former head of digital assets at Nasdaq, to lead its new venture capital arm, Tandem.

The Offchain Labs team is a venture-backed group of developers contributing to the development of Ethereum (ETH) scaling solution Arbitrum (ARB). Offchain Labs is also the team behind the Ethereum consensus client Prysm. It announced the ex-Nasdaq exec’s appointment on Jan.9.

Auerbach’s experience in the digital assets, tech, and finance sectors includes roles at Gemini, Palantir, BNP Paribas, and BGB Partners. At the crypto exchange Gemini, Auerbach held the position of global head of Gemini Prime and head of product.

He also served as senior vice president and head of digital assets at Nasdaq.

In his new role as head of Tandem, Offchain Labs’ partner studio and VC arm, Auerbach will help identify and support promising blockchain projects. He joins Offchain Labs from Nasdaq, where he oversaw the digital assets division.

“Ira’s success in growing both traditional finance and crypto-native companies makes him the ideal leader to drive Tandem’s mission forward,” said Steven Goldfeder, chief executive officer and co-founder of Offchain Labs. 

Auerbach is expected to lead Tandem as the platform aims to support the next wave of projects in the blockchain space.

Tandem will offer access to Offchain Labs’ expertise, technical support, and investment opportunities for new projects. Projects will also gain access to the core Offchain Labs team, developers, and ecosystem partnerships.