Nasdaq Makes a Major Move Towards the Cryptocurrency Market

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Nasdaq Makes a Major Move Towards the Cryptocurrency Market

Nasdaq showed quite an astonishing move several days back, leading the B round funding for Symbiont startup, which granted Symbiont 20 million dollars, at the same time representing a major move of Nasdaq towards the cryptocurrency market.

Gary Offner, Head of Nasdaq Ventures talked about the case, stating that Nasdaq is interested in investing and finding new and innovative technologies, while it’s also been said that Nasdaq will benefit from decentralized applications being developed through Assembly.

Moreover, Galaxy Digital, Raptor Group and City Ventures joined Nasdaq in supporting the innovative technology that blockchain and cryptocurrency represent.

Symbiont Enterprise Blockchain to Integrate with Nasdaq Financial Platform

Nasdaq seems to be more than ready for development towards the cryptocurrency market and blockchain industry with leading the latest funding round for Symbiont.

As a result, Symbiont enterprise blockchain will head towards integration with Nasdaq Financial Framework, also integrating the framework with smart contract platform.

Head of Nasdaq Ventures. Offner, stated that Nasdaq is set to help in building the future infrastructure of blockchain technology already used by 100 different marketplaces.

Offner also added that Nasdaq is pleased with supporting “this important, growing area” for creating unique blockchain applications.

Nasdaq Tech welcomed Symbiont blockchain in one of their tweets from January 23rd:

“We are excited to welcome SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to Nasdaq Ventures.”

Assembly, representing a blockchain-based solution for enterprises operating with smart contracts, is said to enable participants of the network to build the future of financial markets through providing “superior” infrastructure, which is how Nasdaq Ventures is set to enter the digital market at the same time benefiting from Symbiont’s blockchain infrastructure.  

Nasdaq Tech Might Create a Crypto Exchange, Says Nasdaq Ventures CEO

Having Mike Novogratz from Galaxy Digital Holdings joining the B funding round alongside Raptor Group, Nasdaq Ventures and their representatives claim that the company is ready to embrace the idea of blockchain beyond the “Bitcoin hype”.

In that spirit, the company will be looking into deciding which aspects of blockchain could be used and through which applications and which could not.

Additionally, Nasdaq Ventures CEO, Adena Friedman, also spoke on the matter of partnering with Symbiont enterprise blockchain for integrations, stating that the company might open a crypto exchange further in the future.

CEO Friedman noted that this case might take some time, given the fact that the company would have to wait for the appropriate regulatory framework that would allow them to start a cryptocurrency exchange.

Moreover, Nasdaq Ventures CEO added that the company will be focusing on completing their milestone for Q1, which means that we can expect to see Bitcoin futures trading by the end of the first quarter of 2019.


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