The earth'due south 2nd-largest stock exchange and capital markets applied science visitor, Nasdaq, has entered a partnership with enterprise blockchain solutions platform, R3.

R3 appear the partnership on April 29, 2022, stating that Nasdaq will use its blockchain software, Corda, among other services. Their intention is to help financial institutions hands build and deploy institutional-class digital assets.

This is a long-term, not-exclusive partnership between the two firms, which means Nasdaq tin can still collaborate with other blockchain solution providers to piece of work on new projects.

R3'south compatibility with highly regulated environments inspired the partnership

Johan Cost, the caput of digital assets at Nasdaq, said that they entered into a partnership word with R3 due to the platform'southward compatibility with highly regulated environments that take a loftier threshold for the quality of services.

"Their platform fits well into Nasdaq's technology ecosystem and by connecting to the platform, we can harness the power of a scalable design that delivers a new level of interoperability and ease of integration to any current legacy engineering system."

Nasdaq, along with R3, plans to bridge the gap between financial institutes and blockchain-based digital asset solutions. They volition aid organizations issue tokens and build digital asset marketplaces. They will also support these organizations through various processes such as issuance, trading, settlement, and custody.

Optics on the future

Nasdaq is preparing to deliver its services to organizations every bit they realize the potential of digitization and motion from transmission processes to digitized means.

Toll predicts that in the near future, we will see various financial and non-financial marketplaces for trading tokenized concrete assets. This, he adds, volition increase the transparency in the market and reduce friction by setting aside third parties.

There's a great future for blockchain and digital assets in the financial sector only we get-go demand to tackle blockchain's interoperability issues, mentions Price. Even the World Economic Forum recently published a white paper explaining that blockchain'south lack of interoperability is a major hurdle for enterprise use.