Nasdaq Stock Market to integrate enterprise blockchain platform

NASDAQ now lists DeFix index covering blockchain prediction markets Augur, MakerDAO

Nasdaq says it will integrate the blockchain technology developed by start-up, Symbiont, after leading a US$20m funding round in the company.

Headquartered in New York, Symbiont, has developed a blockchain platform that allows institutions to execute smart contracts and trade complex financial products.

The company’s current clients include the Nasdaq itself, Citi Group, Ranieri and Vangaurd.

The $20m funding boost was part of a series B funding round, and along with Nasdaq Ventures, other investors included Galaxy Digital, Citi and Raptor Group.

“Closing this round of funding enables us to accelerate investments in our platform and team,” said Symbiont CEO and Co-founder Mark Smith.

“Leveraging our financial markets and blockchain technology experience, our anchor partners like Vanguard, Lewis Ranieri, and Nasdaq will benefit from developing new distributed applications on Assembly, our enterprise blockchain and smart contract platform.

“Assembly provides the opportunity for new participants to enter the digital asset market and offers existing participants a superior infrastructure on which to build the future of financial markets.”

Nasdaq Blockchain
Symbiont Co-Founder and CEO, Mark Smith (Twitter).

Symbiont says it will use the funds to accelerate blockchain integration in areas including Data Management, Mortgages, Private Equity, and Syndicated Loans.

Nasdaq blockchain integration

Following the closure of the funding round, Nasdaq today revealed it’s exploring new ways to utilise Symbiont’s blockchain and smart contract platform (knows as Assembly).

“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world,” said Gary Offner, Head of Nasdaq Ventures.

“Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework.

“We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”

ASX blockchain switch-over plans remain on track.

In June 2016, the Australian Securities Exchange announced plans to replace its CHESS clearing house system with a blockchain based core system.

In September 2018, Micky reported the move had been delayed until March 2021 to allow more time for user development and testing.

The latest from the ASX is the “early 2021” target for the blockchain transition remains on track.

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