Nasdaq stock exchange partners with blockchain firm R3
- Stock exchange behemoth Nasdaq has partnered with blockchain company R3.
- Using R3’s Corda ecosystem, Nasdaq plans to develop a marketplace for issuance, trading and settlement of digital assets.
- R3 was one of the first blockchain projects to actively work with legacy financial institutions.
American stock exchange Nasdaq has joined forces with R3 to utilize its Corda blockchain for digital assets management. According to R3, the goal of the partnership is to offer businesses a platform to create tokens and digital marketplaces easily. Nasdaq’s head of digital assets, Johan Toll, said that the platform will provide support for a given asset's complete “life cycle" - including issuance, trading, settlement, and custody.
Toll added that R3 was "among the first blockchain pioneers" to serve traditional financial institutions. R3 is well-positioned to work with Nasdaq and meet the scaling demand for digital asset-related services in industries such as healthcare and shipping.
Toll said:
In the near future, many processes that incumbent marketplaces currently operate manually will likely shift to a digitalized workflow, enabling market participants to connect easily with one another to trade those assets. They will also be looking to expand their product coverage by digitalizing assets traditionally dealt with bilaterally in OTC or manual and paper-based markets.
Toll clarified that Nasdaq’s partnership with R3 is non-exclusive, meaning that the firm will continue working with other blockchain providers.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
