Nasdaq is set to unveil its new blockchain-based platform, which will facilitate share transfers and sales on its private market.
The firm’s demonstration of the new platform is expected to take place at the Money 20/20 event in Las Vegas today.
A company-issued statement said Nasdaq Linq – first announced in May – would include Chain, Change Tip, PeerNova, Synack, Tango and Vera as its first private company clients.
Bob Greifeld, Nasdaq CEO, said in a statement:
“We are extremely encouraged by the initial demand for Nasdaq Linq from these innovative, first-mover companies, and the validation it represents of our application of blockchain technology … blockchain applied to the private market is innovation built on top of innovation, and carries with it the opportunity to forever alter the future of financial services infrastructure.”
The platform was developed by Nasdaq’s in-house technologists in collaboration with blockchain technology startup Chain – which recently closed a $30 million funding round with support from Visa – and contributions from global design and innovation firm Ideo.
Adam Ludwin, Chain CEO, said: “We are excited to leverage Nasdaq Linq to issue and manage our company’s securities in a more efficient and transparent way.”
The news comes after Fredrik Voss, vice president and head of blockchain strategy at Nasdaq, spoke to CoinDesk about the group’s crypto-related strategies earlier this month.
Nasdaq image via Shutterstock.
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