Overstock has confirmed that Nasdaq is not using its tØ blockchain platform to clear trades.

Rumours suggesting that Nasdaq – which unveiled its own blockchain-based platform last week – was using the online retailer’s blockchain platform to settle trades first surfaced on Reddit earlier today.

However, a representative from Overstock told CoinDesk:

“That thread is completely mistaken. NASDAQ is doing something similar to, but not using our platform.”

First announced in May, Nasdaq Linq will facilitate the transfers and sale of stock in private companies.

The product is currently being trialled by a few select startups including blockchain technology firm Chain – which worked with Nasdaq to develop the platform – and social tipping service ChangeTip.

Nasdaq further commented on the rumors, stating that it is not using tØ technology in its blockchain products.

Signpost image via Shutterstock.

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