Nasdaq Joins Hands with R3 for Digital Asset Management

Nasdaq Joins Hands with R3 for Digital Asset Management

US stock exchange Nasdaq has inked a long-term collaboration agreement with enterprise software firm R3 to use the latter’s Corda platform in creating a digital asset marketplace.

According to a press release published on 29 April, Nasdaq will use R3’s Corda platform to bolster the digital asset marketplace. In addition, the integration allows Nasdaq to bolster new institutional assets and manage asset lifecycle for new and old operators on a 24x7x365 basis.

As part of the agreement, the digital marketplace can access the various features of Nasdaq’s stock market such as price discovery, order matching, and trading supervision.

Moreover, participants in the Corda platform can use industry-standard monitoring systems, taking digital asset exchange ever closer to conformity with the regulations.

Cathy Minter, chief revenue officer at R3, said:  

“Financial institutions are becoming increasingly aware of the huge potential for servicing the needs of digital assets. We can help them accommodate these assets with solutions that are designed for more secure, reliable and regulated environments.”

He went up to say:

“Together with Nasdaq we will provide a world-class platform on which digital asset markets can be built, helping to rapidly accelerate the growth of these markets and others around the globe”

The collaboration reflects Nasdaq’s commitment to supporting blockchain adoption in capital markets.

Johan Toll, head of digital assets, at Nasdaq said:

“This collaboration between Nasdaq and R3 is another important milestone in Nasdaq’s continuous development of technologies that support the creation and growth of dynamic, trusted digital asset marketplaces.”

“R3’s Corda platform will fit well into Nasdaq’s technology ecosystem and partnership strategy and allow us to harness the power of scalable design and a new level of interoperability,” he added.

Nasdaq Keen on Promoting Blockchain Adoption

It is worth mentioning that Nasdaq and CryptoCompare signed a partnership agreement in in June 2019 to launch a cryptocurrency pricing product. The deal is to provide a reliable source to high-end investors so they can view market pricing in real time.

Cryptolydian earlier reported Juan Miguel Perez CEO and co-founder of Finboot, a Spanish blockchain software firm, as saying that corporations that advocate responsibilities for Environmental, Social and Governance (ESG) initiatives should adopt blockchain technology.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.