Nasdaq Exchange, one of the largest stock exchanges in the world, has partnered with R3, a leading enterprise blockchain company, to create a platform for digital assets marketplaces.
According to an official announcement today, Nasdaq’s Market Technology business will make use of R3’s blockchain software, Corda, coupled with professional services and support to create an “institutional-grade” digital assets marketplace.
Speaking on the potential benefits of the partnership, Nasdaq’s head of digital assets for market technology, John Toll 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.
Nasdaq seeks to strengthen the transparency standards of its digital assets marketplace by means of this partnership with R3, in order to match up with its capital markets counterparts.
The tech-heavy stock exchange is well known for its use of blockchain technology and private ledgers and is already providing its market infrastructure to several clearinghouses, marketplaces, and digital assets exchanges.
On the other hand, though, R3’s Corda blockchain is being adopted by several major companies in the market. R3’s chief revenue officer, Cathy Minter commented on the development saying,
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. 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.