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Nasdaq headquarters in Times Square, New York. | Source: Shutterstock
By CCN.com: Leading a $20 million Series B round of funding in capital market blockchain technology company Symbiont could arguably be Nasdaq’s biggest crypto play to date.
It comes right after Nasdaq CEO Adena Friedman gave further clues to Nasdaq’s commitment to cryptocurrency and blockchain adoption this week. It could also mean Nasdaq will create a platform to issue and trade tokenized securities.
$20 Million Investment and Commercial Integration
Nasdaq Ventures has a led the round of funding to 2015 blockchain startup Symbiont and is joined by Citi Ventures, Galaxy Digital, and Raptor Group.
Symbiont describes Nasdaq as an “anchor partner” which will benefit from developing applications on its “Assembly” enterprise blockchain and smart contract platform. According to the recent release:
Assembly provides the opportunity for new participants to enter the digital asset market and offers existing participants a superior infrastructure on which to build the future of financial markets.
Nasdaq will be using the platform to “explore new business opportunities” with clients looking for smart contract and tokenization solutions.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Revealing that as well as supporting a “unique institutional” application of blockchain that this latest investment will:
Include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework.
Is a Nasdaq Security Token Trading Platform Imminent?
The Symbiont and Nasdaq partnership could see Nasdaq quickly move into creating tokenized securities for clients as well as trading. Something that has been rumored and connected with Symbiont for the past few months.
Mark Smith, speaking at @TIBCO #TIBCOFSI
“#AI, #Blockchain, #SmartContracts, these are tools not solutions. Symbiont finds business leaders who want to incorporate these tools to solve problems for their customers.” pic.twitter.com/ewj697HXHB
— Symbiont (@SymbiontIO) June 12, 2018
Symbiont co-founder and CEO Mark Smith’s comments hint at future plans. He says the investment is a “huge opportunity to be able to go all over the globe with Nasdaq.” And to provide ways to “buy and transact new types of instruments” with Symbiont’s smart contract technology.
London Stock Exchange and UK financial regulators are working on finalizing a regulatory compliant platform for tokenized corporate equity.
Only a matter of time before NYSE and NASDAQ start supporting tokenized securities too.
— Pomp 🌪 (@APompliano) July 19, 2018
Nasdaq’s Biggest Crypto Technology Play Yet?
In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
@Nasdaq and VanEck’s @MVISIndices announces #index #partnership and intention to bring to market transparent, regulated and surveilled #DigitalAssets products, such as #Bitcoin futures contracts. More info to come. Share & follow us. #crypto #futures #SMARTS #ConsensusInvest pic.twitter.com/Q2oCZx4pp1
— Gabor Gurbacs (@gaborgurbacs) November 27, 2018
Furthermore, not only are there rumors that Nasdaq will make a move to securities token offerings. Nasdaq is also working with VanEck on plans to bring more bitcoin-based futures to the US market in early 2019. There is a delay for these plans while Nasdaq and VanEck negotiate with the Commodity Futures Trading Commission (CFTC). And, the CFTC is feeling the effects of the partial US federal government shutdown.
The Next Step Into Crypto?
In July 2018, while already working to implement Nasdaq technology into several cryptocurrency exchanges, Nasdaq held closed door talks to discuss the future of cryptocurrency. CEO Adena Friedman had said she believed cryptocurrency was the “right next step” for currency.
Speaking on route to Davos, Friedman gave further clues as to Nasdaq’s commitment to cryptocurrency:
The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.
Friedman believes digital currencies will have a “role in the future.” She picked out Nasdaq’s technology offering to crypto players and its investment in ErisX as examples saying:
At Nasdaq, we are working to help cryptocurrencies gain investors’ trust.
And, back in April 2018, Friedman was asked if Nasdaq had its own direct plans for a cryptocurrency exchange. The CEO called cryptocurrency an “unregulated space” notably added:
Nasdaq would consider becoming a crypto exchange, over time.
One could speculate that a Nasdaq platform for tokenized securities is looking likely for 2019. And that a natural progression from this might well be a cryptocurrency exchange, at some point.
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#TradeTalks: The Future of Industry 4.0
ICYMI - Watch @NasdaqTech #TradeTalks: The Future of #Industry40 with IBM General Manager @kareemyusuf
#TradeTalks: The Future of Industry 4.0
IBM and Verizon Business will collaborate on 5G and edge computing innovation to help enable the future of Industry 4.0. IBM General Manager of AI Applications, Kareem Yusef, joins Jill Malandrino on Nasdaq #TradeTalks to discuss.
IBM Get Social Hub
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Thank you @Nasdaq @NasdaqTech for having me to talk about Future of Decentralized tech and Finance. pic.twitter.com/Q2Ybn6DQKn— Kavita Gupta (@KavitaGupta19) May 20, 2019
http://twitter.com/KavitaGupta19
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Nasdaq Finally Gives a Green Light to Cryptocurrency
Nasdaq Finally Gives a Green Light to Cryptocurrency
Photo: Pursuit / Flickr
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 is expected to 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 markets.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
He said:
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world. Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Nasdaq’s support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin, which hasn’t completely cooled with the collapse in cryptocurrencies.
Nasdaq Ventures, an initiative of the exchange operator focused on investments in financial technology, is the lead investor in Symbiont’s series B funding round, according to a company statement on Wednesday. Other investors include Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office.
Smith said in an interview:
“We are entering a much more realistic phase where people look at this technology and think seriously about where it makes sense to apply it and where it doesn’t. We are leaving the peak of the hype cycle and entering the trough of disillusionment, especially for people who inappropriately applied this technology hoping it would become a panacea for solving all their problems.”
The company’s CEO Adena Friedman also spoke her mind stating that the firm might create a crypto exchange further down the road. It would become a reality if given the right regulatory framework. However, it might take some time. Meanwhile, the company moves forward and will launch trading with bitcoin futures during Q1 this year.
ESG Finally Gets the Deserved Acceptance
Friedman wrote:
“We expect that investments and investment strategies focused on environmental, social, and governance (ESG) goals will continue to take hold across the global markets this year. The focus among investors and corporations on ESG is reaching a healthy and important state of maturity in Europe, but it is still just beginning its rise across North America, and is shooting some early sprouts of interest in Asia.
According to research from State Street Global Advisors more than two-thirds (68 percent) of institutional asset managers report that the integration of ESG has significantly improved their returns.”
She also added that it’s been more than a decade since Bitcoin took the world by storm. With several thousand competing cryptocurrencies vying for investor attention, the world of “crypto” has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.
She suggested two of possible outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).
Be it as it may it’s good to know that Symbiont has even developed a partnership with Vanguard, a frequent critic of cryptocurrencies, to provide a new approach to updating the data that fuels index funds. While several of its past partnerships have not worked out, Symbiont has forged ahead and has built exciting new opportunities for itself.
Symbiont may be the platform that many proponents of regulated tokenization are waiting for, and with hope, it will be able to change the landscape for the better. If Vanguard and Nasdaq like what the platform can offer, we may be closer to blockchain-based settlement and tokenization systems than most think.
Just for reminder, In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
Source link http://bit.ly/2sPBmam
0 notes
Text
Nasdaq Finally Gives a Green Light to Cryptocurrency
Nasdaq Finally Gives a Green Light to Cryptocurrency
Photo: Pursuit / Flickr
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 is expected to 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 markets.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
He said:
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world. Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Nasdaq’s support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin, which hasn’t completely cooled with the collapse in cryptocurrencies.
Nasdaq Ventures, an initiative of the exchange operator focused on investments in financial technology, is the lead investor in Symbiont’s series B funding round, according to a company statement on Wednesday. Other investors include Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office.
Smith said in an interview:
“We are entering a much more realistic phase where people look at this technology and think seriously about where it makes sense to apply it and where it doesn’t. We are leaving the peak of the hype cycle and entering the trough of disillusionment, especially for people who inappropriately applied this technology hoping it would become a panacea for solving all their problems.”
The company’s CEO Adena Friedman also spoke her mind stating that the firm might create a crypto exchange further down the road. It would become a reality if given the right regulatory framework. However, it might take some time. Meanwhile, the company moves forward and will launch trading with bitcoin futures during Q1 this year.
ESG Finally Gets the Deserved Acceptance
Friedman wrote:
“We expect that investments and investment strategies focused on environmental, social, and governance (ESG) goals will continue to take hold across the global markets this year. The focus among investors and corporations on ESG is reaching a healthy and important state of maturity in Europe, but it is still just beginning its rise across North America, and is shooting some early sprouts of interest in Asia.
According to research from State Street Global Advisors more than two-thirds (68 percent) of institutional asset managers report that the integration of ESG has significantly improved their returns.”
She also added that it’s been more than a decade since Bitcoin took the world by storm. With several thousand competing cryptocurrencies vying for investor attention, the world of “crypto” has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.
She suggested two of possible outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).
Be it as it may it’s good to know that Symbiont has even developed a partnership with Vanguard, a frequent critic of cryptocurrencies, to provide a new approach to updating the data that fuels index funds. While several of its past partnerships have not worked out, Symbiont has forged ahead and has built exciting new opportunities for itself.
Symbiont may be the platform that many proponents of regulated tokenization are waiting for, and with hope, it will be able to change the landscape for the better. If Vanguard and Nasdaq like what the platform can offer, we may be closer to blockchain-based settlement and tokenization systems than most think.
Just for reminder, In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
Source link http://bit.ly/2sPBmam
0 notes
Text
Nasdaq Finally Gives a Green Light to Cryptocurrency
Nasdaq Finally Gives a Green Light to Cryptocurrency
Photo: Pursuit / Flickr
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 is expected to 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 markets.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
He said:
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world. Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Nasdaq’s support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin, which hasn’t completely cooled with the collapse in cryptocurrencies.
Nasdaq Ventures, an initiative of the exchange operator focused on investments in financial technology, is the lead investor in Symbiont’s series B funding round, according to a company statement on Wednesday. Other investors include Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office.
Smith said in an interview:
“We are entering a much more realistic phase where people look at this technology and think seriously about where it makes sense to apply it and where it doesn’t. We are leaving the peak of the hype cycle and entering the trough of disillusionment, especially for people who inappropriately applied this technology hoping it would become a panacea for solving all their problems.”
The company’s CEO Adena Friedman also spoke her mind stating that the firm might create a crypto exchange further down the road. It would become a reality if given the right regulatory framework. However, it might take some time. Meanwhile, the company moves forward and will launch trading with bitcoin futures during Q1 this year.
ESG Finally Gets the Deserved Acceptance
Friedman wrote:
“We expect that investments and investment strategies focused on environmental, social, and governance (ESG) goals will continue to take hold across the global markets this year. The focus among investors and corporations on ESG is reaching a healthy and important state of maturity in Europe, but it is still just beginning its rise across North America, and is shooting some early sprouts of interest in Asia.
According to research from State Street Global Advisors more than two-thirds (68 percent) of institutional asset managers report that the integration of ESG has significantly improved their returns.”
She also added that it’s been more than a decade since Bitcoin took the world by storm. With several thousand competing cryptocurrencies vying for investor attention, the world of “crypto” has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.
She suggested two of possible outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).
Be it as it may it’s good to know that Symbiont has even developed a partnership with Vanguard, a frequent critic of cryptocurrencies, to provide a new approach to updating the data that fuels index funds. While several of its past partnerships have not worked out, Symbiont has forged ahead and has built exciting new opportunities for itself.
Symbiont may be the platform that many proponents of regulated tokenization are waiting for, and with hope, it will be able to change the landscape for the better. If Vanguard and Nasdaq like what the platform can offer, we may be closer to blockchain-based settlement and tokenization systems than most think.
Just for reminder, In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
Source link http://bit.ly/2sPBmam
0 notes
Text
Nasdaq Finally Gives a Green Light to Cryptocurrency
Nasdaq Finally Gives a Green Light to Cryptocurrency
Photo: Pursuit / Flickr
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 is expected to 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 markets.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
He said:
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world. Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Nasdaq’s support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin, which hasn’t completely cooled with the collapse in cryptocurrencies.
Nasdaq Ventures, an initiative of the exchange operator focused on investments in financial technology, is the lead investor in Symbiont’s series B funding round, according to a company statement on Wednesday. Other investors include Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office.
Smith said in an interview:
“We are entering a much more realistic phase where people look at this technology and think seriously about where it makes sense to apply it and where it doesn’t. We are leaving the peak of the hype cycle and entering the trough of disillusionment, especially for people who inappropriately applied this technology hoping it would become a panacea for solving all their problems.”
The company’s CEO Adena Friedman also spoke her mind stating that the firm might create a crypto exchange further down the road. It would become a reality if given the right regulatory framework. However, it might take some time. Meanwhile, the company moves forward and will launch trading with bitcoin futures during Q1 this year.
ESG Finally Gets the Deserved Acceptance
Friedman wrote:
“We expect that investments and investment strategies focused on environmental, social, and governance (ESG) goals will continue to take hold across the global markets this year. The focus among investors and corporations on ESG is reaching a healthy and important state of maturity in Europe, but it is still just beginning its rise across North America, and is shooting some early sprouts of interest in Asia.
According to research from State Street Global Advisors more than two-thirds (68 percent) of institutional asset managers report that the integration of ESG has significantly improved their returns.”
She also added that it’s been more than a decade since Bitcoin took the world by storm. With several thousand competing cryptocurrencies vying for investor attention, the world of “crypto” has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.
She suggested two of possible outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).
Be it as it may it’s good to know that Symbiont has even developed a partnership with Vanguard, a frequent critic of cryptocurrencies, to provide a new approach to updating the data that fuels index funds. While several of its past partnerships have not worked out, Symbiont has forged ahead and has built exciting new opportunities for itself.
Symbiont may be the platform that many proponents of regulated tokenization are waiting for, and with hope, it will be able to change the landscape for the better. If Vanguard and Nasdaq like what the platform can offer, we may be closer to blockchain-based settlement and tokenization systems than most think.
Just for reminder, In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
Source link http://bit.ly/2sPBmam
0 notes
Text
Nasdaq Finally Gives a Green Light to Cryptocurrency
Nasdaq Finally Gives a Green Light to Cryptocurrency
Photo: Pursuit / Flickr
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 is expected to 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 markets.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
He said:
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world. Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Nasdaq’s support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin, which hasn’t completely cooled with the collapse in cryptocurrencies.
Nasdaq Ventures, an initiative of the exchange operator focused on investments in financial technology, is the lead investor in Symbiont’s series B funding round, according to a company statement on Wednesday. Other investors include Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office.
Smith said in an interview:
“We are entering a much more realistic phase where people look at this technology and think seriously about where it makes sense to apply it and where it doesn’t. We are leaving the peak of the hype cycle and entering the trough of disillusionment, especially for people who inappropriately applied this technology hoping it would become a panacea for solving all their problems.”
The company’s CEO Adena Friedman also spoke her mind stating that the firm might create a crypto exchange further down the road. It would become a reality if given the right regulatory framework. However, it might take some time. Meanwhile, the company moves forward and will launch trading with bitcoin futures during Q1 this year.
ESG Finally Gets the Deserved Acceptance
Friedman wrote:
“We expect that investments and investment strategies focused on environmental, social, and governance (ESG) goals will continue to take hold across the global markets this year. The focus among investors and corporations on ESG is reaching a healthy and important state of maturity in Europe, but it is still just beginning its rise across North America, and is shooting some early sprouts of interest in Asia.
According to research from State Street Global Advisors more than two-thirds (68 percent) of institutional asset managers report that the integration of ESG has significantly improved their returns.”
She also added that it’s been more than a decade since Bitcoin took the world by storm. With several thousand competing cryptocurrencies vying for investor attention, the world of “crypto” has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.
She suggested two of possible outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).
Be it as it may it’s good to know that Symbiont has even developed a partnership with Vanguard, a frequent critic of cryptocurrencies, to provide a new approach to updating the data that fuels index funds. While several of its past partnerships have not worked out, Symbiont has forged ahead and has built exciting new opportunities for itself.
Symbiont may be the platform that many proponents of regulated tokenization are waiting for, and with hope, it will be able to change the landscape for the better. If Vanguard and Nasdaq like what the platform can offer, we may be closer to blockchain-based settlement and tokenization systems than most think.
Just for reminder, In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
Source link http://bit.ly/2sPBmam
0 notes
Text
Nasdaq Finally Gives a Green Light to Cryptocurrency
Nasdaq Finally Gives a Green Light to Cryptocurrency
Photo: Pursuit / Flickr
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 is expected to 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 markets.
Gary Offner, Head of Nasdaq Ventures says its investments “help build our future market infrastructure used by more than 100 marketplaces around the world.”
He said:
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world. Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
Nasdaq’s support for Symbiont shows Wall Street’s enthusiasm for the technology behind Bitcoin, which hasn’t completely cooled with the collapse in cryptocurrencies.
Nasdaq Ventures, an initiative of the exchange operator focused on investments in financial technology, is the lead investor in Symbiont’s series B funding round, according to a company statement on Wednesday. Other investors include Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office.
Smith said in an interview:
“We are entering a much more realistic phase where people look at this technology and think seriously about where it makes sense to apply it and where it doesn’t. We are leaving the peak of the hype cycle and entering the trough of disillusionment, especially for people who inappropriately applied this technology hoping it would become a panacea for solving all their problems.”
The company’s CEO Adena Friedman also spoke her mind stating that the firm might create a crypto exchange further down the road. It would become a reality if given the right regulatory framework. However, it might take some time. Meanwhile, the company moves forward and will launch trading with bitcoin futures during Q1 this year.
ESG Finally Gets the Deserved Acceptance
Friedman wrote:
“We expect that investments and investment strategies focused on environmental, social, and governance (ESG) goals will continue to take hold across the global markets this year. The focus among investors and corporations on ESG is reaching a healthy and important state of maturity in Europe, but it is still just beginning its rise across North America, and is shooting some early sprouts of interest in Asia.
According to research from State Street Global Advisors more than two-thirds (68 percent) of institutional asset managers report that the integration of ESG has significantly improved their returns.”
She also added that it’s been more than a decade since Bitcoin took the world by storm. With several thousand competing cryptocurrencies vying for investor attention, the world of “crypto” has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.
She suggested two of possible outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).
Be it as it may it’s good to know that Symbiont has even developed a partnership with Vanguard, a frequent critic of cryptocurrencies, to provide a new approach to updating the data that fuels index funds. While several of its past partnerships have not worked out, Symbiont has forged ahead and has built exciting new opportunities for itself.
Symbiont may be the platform that many proponents of regulated tokenization are waiting for, and with hope, it will be able to change the landscape for the better. If Vanguard and Nasdaq like what the platform can offer, we may be closer to blockchain-based settlement and tokenization systems than most think.
Just for reminder, In December Nasdaq Ventures joined Fidelity in a $27.5 million round of funding for cryptocurrency exchange ErisX. The funding split was not revealed and though Nasdaq headlined the investment it does not appear to be lead funder. The Symbiont partnership could possibly be Nasdaq’s biggest financial commitment to the nascent cryptocurrency and blockchain sector yet.
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One of the biggest cryptos plays to date could have just been done by Nasdaq, leading a $20 million Series B round of funding in capital market blockchain technology firm Symbiont.
This news surfaced after the CEO of Nasdaq, Adena Friedman made suggestions to Nasdaq’s commitment to cryptocurrency and blockchain adoption this week. Furthermore, it could also mean Nasdaq will create a platform to use and trade tokenised securities.
Nasdaq Ventures has spearheaded the round of funding to 2015 blockchain startup Symbiont and is joined by Galaxy Digital, Raptor Group and Citi Ventures.
The startup calls Nasdaq its anchor partner which will benefit from developing application its ‘Assembly’ enterprise blockchain and smart contract platform. According to the recent release it states that the “Assembly provides the opportunity for new participants to enter the digital asset market and offers existing participants a superior infrastructure on which to build the future of financial markets.”
The platform will be used by Nasdaq in order to look at new potential business opportunities with customers looking for smart contracts and tokenisation solutions. The head of Nasdaq ventures Gary Offner has said that its investment will help the growth of the “future market infrastructure used by more than 100 marketplaces around the world.”
We are excited to welcome @SymbiontIO, a market-leading platform for institutional applications of #blockchain technology, to @Nasdaq Ventures. https://t.co/heqfd0JVcy
— Nasdaq Tech (@NasdaqTech) January 23, 2019
The latest investment will also “include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework”, as well as supporting a unique institutional application of blockchain.
The Symbiont and Nasdaq partnership could be seeing Nasdaq quickly move into creating tokenised securities for customers as well as trading. This is something to have been rumoured and connected for a while now.
Back in the summer, Nasdaq held closed-door talks to talk about the future of cryptocurrency, with the CEO saying she believed cryptocurrency was the right step for currency in general. Speaking on route to Davos, Friedman said “the invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.”
What are your thoughts? Let us know what you think down below in the comments!
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