Nasdaq (NDAQ), the second-largest stock exchange in the world by total capitalization, has partnered with Microsoft (MSFT) to bring blockchain technology to the Nasdaq Financial Framework via the Azure cloud.
— Microsoft Azure (@Azure) October 30, 2018
According to the announcement, integration with Microsoft’s Azure will allow the framework to develop a ledger agnostic blockchain capability that supports a multi-ledger strategy. This will allow Nasdaq to manage the delivery, payment and settlement of transactions that may reside on multiple blockchains with different payment mechanisms within the NFF.
“With multiple blockchains in use by various industry participants, we believe that the combination of NFF and Microsoft’s blockchain technology can remove some of the project complexities that exist in this realm,” said Tom Fay, Senior Vice President of Enterprise Architecture at Nasdaq.
Ultimately, the two companies plan to enable capital market organizations to use blockchain-based applications hosted on the NFF without the need for ledger-specific skills or knowledge.
Microsoft has slowly been developing its Ethereum-based BaaS and back in March, Microsoft’s Azure hosted its first blockchain-based investment product: two Principal Protected Notes (PPN) linked to the FTSE 100. PPNs are synthetic investment products that can be designed to guarantee an investor’s principal while providing profit based on the underlying asset value.
As for Nasdaq, the exchange giant has been steadily been making blockchain and crypto headlines for the better part of 2018. Most recently, we reported that they are currently exploring a possible security token platform to support regulated initial coin offerings (ICOs).
More: Bringing digital ledger interoperability to Nasdaq Financial Framework through Microsoft Azure Blockchain
Photo: Wonderlane / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.