Stock exchange Nasdaq invests in blockchain technology and cryptocurrencies

American stock exchange Nasdaq has been showing a huge interest in blockchain technology and Cryptocurrencies. Recently, Nasdaq has invested in Symbiont, a company located in New York City that specializes in smart contract products and distributed ledgers for use in capital markets”.

According to reports, Symbiont raised $20M Series B funding from Nasdaq and its Ventures. Among the ventures were Mike Novogratz’s Galaxy Digital, Citibank and Raptor Group. The company hopes the newly acquired funds will help accelerate its growth in the blockchain market.

Additionally, the company will use the funds obtained through Nasdaq to popularise and promote the growth of Assembly. Assembly is a blockchain platform build by Symbiote for “building networks in which multiple, independent entities may share data and logic in real time”.

In a recent statement, Symbiont CEO Mark Smith expressed his optimism after a successful funding round:

“ Closing this round of funding enables us to accelerate investments in our platform and team …
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.”

Additionally, Nasdaq also expressed its excitement and faith in Symbiont. According to Gary Offner, head of Nasdaq, Symbiont and Assembly have the potential to impact the global economy:

“ 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 …
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.”

 

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Henry-Claude Madiba

Renewable energy engineer in training. I am only interested in two things, blockchain technology and contributing to making the world a livable place for the next generations.

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