Digital Assets: Nasdaq and R3 Collaborate to Offer Blockchain-based Digital Marketplaces

April 30, 2020 | Digital Assets, News

Nasdaq will use Corda, R3’s enterprise blockchain software.

US exchange operator Nasdaq embraced the blockchain as early as 2010. It has now tied up with R3 for building full lifecycle solutions for digital assets market places. Nasdaq will utilize R3’s enterprise blockchain software Corda, and its professional services and support for the purpose. (THE BLOCK)

New digital platforms

Businesses seeking to issue tokens and marketplaces to trade such tokens may now do so easily using the Nasdaq-R3 solution.

Nasdaq will support the digital asset’s entire life cycle – from issuance through trading, settlement, and custody.

“Through our engagements with both traditional exchanges and start-up marketplaces, they have been vocal about the huge potential in both tokenized assets and adopting blockchain technology,” said John Toll, head of digital assets at Nasdaq.

“We believe we will see both existing and start-up exchanges look more seriously into robust, exchange-grade systems that can evolve transparency and security standards aligned with their capital markets counterparts to grow liquidity and attract widespread investment from all types of investors,” he added.

He gave the example that the new technology could automate and digitalize manual processes in the bilateral OTC markets.

Further, it could build new marketplaces in healthcare, shipping, insurance, and logistics. These would trade and track existing or novel asset classes.

Trusted digital asset marketplaces

“Overall, our goal is to provide financial institutions with an easily accessible, complete solution to issue tokens and build trusted, digital asset marketplaces designed for high security for trading and settling them within an ecosystem that supports growing volumes, as well as business and product development,” Toll said.

“Together with Nasdaq we will provide a world-class platform on which digital assets markets can be built, helping to rapidly accelerate the growth of these markets and others around the globe,” said Cathy Minter, chief revenue officer at R3.

However, it may be noted that Nasdaq’s deal with R3 is non-exclusive. Toll made it very clear that Nasdaq will continue to collaborate with other blockchain providers such as Symbiont.

Related Story: Digital Assets: Hex Trust Integrates Custody Services With R3’s Corda Blockchain

Image credit: Flickr                                                   

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