More Suggestions Of Bitcoin Acceptance By Nasdaq

One of the biggest cryptos plays to date could have just been done by Nasdaq, leading a $20 million Series B round of funding in capital market blockchain technology firm Symbiont.

This news surfaced after the CEO of Nasdaq, Adena Friedman made suggestions to Nasdaq’s commitment to cryptocurrency and blockchain adoption this week. Furthermore, it could also mean Nasdaq will create a platform to use and trade tokenised securities.

Nasdaq Ventures has spearheaded the round of funding to 2015 blockchain startup Symbiont and is joined by Galaxy Digital, Raptor Group and Citi Ventures.

The startup calls Nasdaq its anchor partner which will benefit from developing application its ‘Assembly’ enterprise blockchain and smart contract platform. According to the recent release it states that the “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.”

The platform will be used by Nasdaq in order to look at new potential business opportunities with customers looking for smart contracts and tokenisation solutions. The head of Nasdaq ventures Gary Offner has said that its investment will help the growth of the “future market infrastructure used by more than 100 marketplaces around the world.”

We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy

— Nasdaq Tech (@NasdaqTech) January 23, 2019

The latest investment will also “include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework”, as well as supporting a unique institutional application of blockchain.

The Symbiont and Nasdaq partnership could be seeing Nasdaq quickly move into creating tokenised securities for customers as well as trading. This is something to have been rumoured and connected for a while now.

Back in the summer, Nasdaq held closed-door talks to talk about the future of cryptocurrency, with the CEO saying she believed cryptocurrency was the right step for currency in general. Speaking on route to Davos, Friedman said “the invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.”

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