Nasdaq’s partnership with R3 will help financial companies issue tokens and set up marketplaces.

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May 5, 2020 · 2 min read

Nasdaq (NDAQ) is a global technology company serving the capital markets and other industries.

Nasdaq, one of America’s foremost (non-crypto) exchanges has partnered with R3, the company responsible for the business-friendly Corda blockchain platform.

With its “long-term, non-exclusive, collaboration agreement” with R3, announced recently, the two companies will help financial institutions issue tokens and build marketplaces for digital assets.

Johann Toll, Nasdaq’s head of digital assets, told Decrypt, the project is focused on building “full lifecycle solutions for digital assets marketplaces.”

Eric Wall, CIO of Arcane assets and a former blockchain lead at Nasdaq, informed Decrypt: “Nasdaq believes that blockchains will revolutionize the financial industry and they want to be a center player in that transition”.

“What Nasdaq has been struggling with is figuring out is [whether] these blockchains will be public, as in cryptocurrency networks, or if it will be enterprise solutions where they can remain in control,” he added.

Nasdaq has already identified some areas where digital assets may have a role. Existing exchanges and financial institutions “see an opportunity to automate and digitalize manual processes in the bilateral OTC markets,” wrote Toll in a blog post.

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