Nasdaq, one of the largest US stock exchanges, has announced that it has entered into a partnership with R3, the company responsible for the “Corda” blockchain platform that provides its services to enterprises.

Johan Tol, head of digital assets at Nasdaq, told SourceThe partnership will focus on building full lifecycle solutions for the digital asset markets, through a “non-exclusive long-term cooperation agreement” with R3.

Advertising About the partnership between the two parties was published last Wednesday, and the two companies aim to help financial institutions issue tokens and build markets for digital assets.

Eric Wall, CIO of Arcane Assets and former blockchain director at Nasdaq said:

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Nasdaq believes that blockchain will revolutionize the financial industry, so they want to play a central role in this transformation.

He added:

Nasdaq is seeking to discover whether the public blockchain will have the upper hand like cryptocurrencies or whether institutional networks and solutions will be dominant.

Johan Toll wrote in a post that current exchanges and financial institutions see an opportunity to automate and digitize manual processes in binary OTC markets.

He touched on the opportunity to build new markets in industries such as healthcare, shipping and trade logistics and efficiently track existing or new asset classes, by creating a digital representation of assets that can be tracked throughout their entire lifecycle from inception and issuance to trading, settlement and delivery.

There are no details yet, but what Toll wrote indicates that the models have already been built.

To achieve Nasdaq’s vision of digitizing the representation of assets, the stock exchange has hired “R3” company, which is particularly focused on highly regulated environments that provide quality service, and because of the previous experience of R3 company in dealing with leading financial institutions.

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This is why Corda’s blockchain technology is now integrated into Nasdaq’s financial frameworks.

While R3 will handle the blockchain stuff, he told Toll that Nasdaq will offer financial institutions matching engines, monitoring, data discovery and reporting services.

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