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NASDAQ invests in Symbiont Blockchain platform and supports mass adoption

NASDAQ was the first fully electronic exchange. This innovative attitude is still fueling our ambitions today. This is how Nasdaq Ventures is motivating its investment efforts in new technologies. As a press release reveals, these are not just empty words. Together with other venture capitalists, including Galaxy Digital, NASDAQ is investing a total of $ 20 million in the blockchain company Symbiont.

Symbiont hopes to be able to finance new projects from the newly received money blessing. Above all, Fintech has in mind the development of its blockchain platform. This could also benefit investors in the medium term..

“Our partners, such as Vanguard, Lewis Ranieri and NASDAQ, will benefit from the development of new distributed applications on Assembly. Our enterprise blockchain. Assembly will enable attendees to enter the digital asset market and provide existing participants with an excellent infrastructure to build the future of financial markets,” said Mark Smith, CEO of Symbiont.

Funding flows well in assembly platform

Assembly is a permissioned blockchain that enables financial institutions to conduct peer to peer transactions, as stated in the news release. The medium term goal is to also issue loans and investment products via the assembly platform.

No crypto greenhorn

However, NASDAQ is not a blank slate in terms of crypto and blockchain. In September 2018, the stock market bought the Swedish technology company Cinnober for 190 million US dollars. Cinnober’s business focus is on crypto. In cooperation with BitGo, FinTech intends to build a trading platform for institutional investors.

Meanwhile, the management level of the world’s second largest stock exchange seems to set the tone. In an amount on LinkedIn, Adena Friedman said that, cryptocurrencies have the potential to become global currency.

Also published on Medium.

Published inCryptocurrenciesFintech

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