Stock exchange operator and market tech provider Nasdaq is teaming up with the enterprise blockchain firm R3 to launch a service designed to make it easy for financial institutions to create their own digital asset marketplaces.
The platform will utilize R3’s Corda blockchain to allow firms to launch and manage their own tokens. It will also handle custody, trading and settlement.
Johan Toll, head of digital assets and market technology at Nasdaq, says the initiative is a big step forward in its efforts to become a central player in the rapidly expanding digital asset industry.
“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.”
Toll says Nasdaq expects blockchain and digital assets to become a core part of many incumbent marketplaces in the near future.
The new partnership is non-exclusive, and both companies will continue to collaborate with other blockchain providers in the space.