Nasdaq has signed a deal with the operator of Switzerland's primary stock exchange to integrate blockchain into its over-the-counter product services.
According to a U.S. Securities and Exchange Commission (SEC) filing from July 26, Nasdaq – which has been working with blockchain technology since as early as 2015 – struck the agreement with SIX Swiss Exchange, a subsidiary of SIX Group. Notably, the group has also been experimenting with blockchain through its SIX Securities business line.
The SEC filing revealed the new deal, stating:
While it's not yet clear when the OTC solution will be developed, or whether there is a timeline for deployment, the news is the latest indication of Nasdaq's aggressive push toward commercializing its work with blockchain.
Among other projects, the stock exchange unveiled a partnership with financial giant Citi in May focused on blockchain payments. That was soon after revealing that it was providing the tech for a digital media contracts exchange in March. Nasdaq has also expressed its desire to invest in more startups that work with blockchain.
Nasdaq image via andersphoto/Shutterstock
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