NASDAQ ventures have been leading
the Series B funding in the capital market technology for $20 million with
Symbiont. Having led the rounds of the founding of the 2015 startup Symbiont,
NASDAQ is joined by Raptor Group, Galaxy Digital, and Citi Ventures.
Being the Anchor partner NASDAQ
will benefit from developing applications on Assembly, the enterprise
blockchain solution on the smart contract platform. A recent report stated that Assembly provides
its participants with an opportunity to enter the digital market by providing a
superior infrastructure on which they can build the future of financial
The mortgage bond markets might
become very efficient by using the smart contract and the blockchain platform
from Symbiont, which is mainly focused on capital markets. Financial institutions will be able to verify
and share their data using this new platform.
The smart contracts will be used to speed up the settlements in the loans
based on the mortgage bond markets.
It can thus be seen that NASDAQ
is continuing to stick on to the crypto space.
Irrespective of the bear market venture capitalists have a lot of reason
pour their money in the cryptocurrency industry. While Symbiont is already
working with NASDAQ, it is seen that NASDAQ is planning to make a grand entry
into the cryptocurrency world.
The Symbiont is already working
with NASDAQ to create a new platform that will help startups to provide
regulated security tokens in compliance with the US Law. Being a smaller player
in the futures market, NASDAQ mightbase
its price out of 50 Bitcoin sources from across the globe.
Of note, DX Exchange, the NASDAQ
powered exchange on boarded 50,000 users.
In a meeting that was hosted in Chicago, several cryptocurrency
companies discussed how to do things that will validate the potential of
cryptocurrencies in global markets.
Adena Friedman, CEO of NASDAQ previously
stated cryptocurrency is the right “next step” for the
Friedman back in 2018 did give
clues about NASDAQ’s attitude towards cryptocurrency. She stated that digital currencies would have
serious “role in the future.”
Back in 2018, she opined that
cryptocurrencies are a tremendous demonstration of creativity and genius
deserving the opportunity to find sustainability for the future economy. When
questioned about whether NASDAQ will enter the crypto industry directly, she
stated that NASDAQ might become a crypto exchange over time.
NASDAQ might soon move ahead to
create security tokens. NASDAQ had
previously held closed-door talks about the future of cryptocurrency.
Adena stated that the investment
of NASDAQ in ErisX would help investors in cryptocurrency to gain trust.