Nasdaq signs first clients to blockchain-based platform

Nasdaq signs first clients to blockchain-based platform

Nasdaq has signed up the first batch of clients for its new blockchain-enabled platform for trading shares in private companies.

Exchange operator Nasdaq outlined plans earlier this year to tap the Open Assets Protocol colored coin initiative to create blockchain-enabled digital ledger technology at its Nasdaq Private Market platform, which is used by private companies for pre-IPO trading.

The first firms to use Nasdaq Linq to facilitate the issuance, cataloging and recording of transfers of shares are ChangeTip, PeerNova, Synack, Tango, Vera, and Chain - the blockchain infrastructure provider which has been helping to build the platform.

Bob Greifeld, CEO, Nasdaq, says: "We are extremely encouraged by the initial demand for Nasdaq Linq from these innovative, first-mover companies, and the validation it represents of our application of blockchain technology."

Nasdaq is hoping to use distributed ledger technology for a host of other tasks, and recently revealed that it is working on a way to manage proxy voting via blockchain technology in Estonia.

The operator is also very keen to win over as much business from private held firms as possible. Only last week it acquired SecondMarket Solutions, which will be merged with the Private Markets business.

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