Blockchain startup Chain has issued shares to a private investor using Nasdaq’s recently launched private markets blockchain solution, Linq.
In statements, Nasdaq called Chain the first company to complete and document a private securities transaction with its Linq technology, a development the company and CEO Bob Greifeld termed a "major advance" for the blockchain industry.
For the transaction, Chain used the Linq platform to issue a record of ownership in the company to its new investor, while benefiting from what Nasdaq said was a reduced settlement time. No details were provided on the size of the investment or whether this funding was part of the company’s recent $30m Series A or a separate fundraising.
Nasdaq used the announcement to further discuss the big-picture implications it believes the blockchain could bring to financial services as the technology matures.
Nasdaq is, however, one of a number of players seeking to launch blockchain products aimed at the private equities market.
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