Capital markets News

Nasdaq adopts Corda blockchain for digital assets exchange software


R3 announced that Nasdaq will use R3’s enterprise blockchain Corda in its Market Technology business for digital assets exchanges.

Nasdaq provides its market infrastructure software to more than 120 marketplaces and institutions, including some digital asset exchanges. For example, the Singapore Exchange SGX is a software client, and together they’ve run experiments for instant settlement or delivery versus payment for tokenized assets.

“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,” said Johan Toll, Nasdaq’s Head of Digital Assets, Market Technology. 

He continued: “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 has quite a bit of experience in the blockchain distributed ledger technology (DLT) sector. A year ago, it signed a deal with Microsoft Azure blockchain, which supports multiple blockchain flavors to integrate its Nasdaq Financial Framework (NFF).

It has also invested in blockchain firms, including enterprise blockchain startup Symbiont, and the company behind the Utility Settlement Coin, Fnality.

Image Copyright: Fotonen / BigStock Photo