Nasdaq Private Market Will be First Project at Nasdaq to
Use Chain's Technology
Chain Will be Inaugural
Client on Nasdaq Private Market to Leverage Blockchain
Technology
NEW YORK and SAN FRANCISCO, June 24, 2015 (GLOBE NEWSWIRE) --
Nasdaq (Nasdaq:NDAQ) today announced a new partnership with Chain,
the leading blockchain infrastructure provider to financial
institutions and enterprises, to leverage the blockchain platform
to facilitate the secure issuance and transfer of shares of
privately-held companies. Chain, currently privately-held, plans to
be the inaugural company to use the blockchain technology on Nasdaq
Private Market.
"We are excited about the potential impact of this new endeavor
with Chain on the transaction process," said Bob Greifeld, CEO,
Nasdaq. "This Nasdaq Private Market project aims to simplify the
overwhelming challenges private companies face with manual ledger
record-keeping. As blockchain technology continues to redefine not
only how the exchange sector operates, but the global financial
economy as a whole, Nasdaq aims to be at the center of this
watershed development."
The new partnership with Chain marks the latest milestone on
Nasdaq's exploratory approach to apply blockchain technology across
the company. In May, Nasdaq announced initially leveraging the Open
Assets Protocol, a colored coin innovation built upon the
blockchain. In its first application expected later this year, the
company plans to launch blockchain-enabled digital ledger
technology to expand and enhance the equity management capabilities
offered by its Nasdaq Private Market platform.
"Chain is thrilled to be working with Nasdaq on blockchain
initiatives which will reduce the time, costs, and points of
friction across the capital markets," said Adam Ludwin, CEO of
Chain. "Nasdaq's technology and thought leadership in creating new,
dynamic markets will carry over into the blockchain space in truly
disruptive ways."
By using the blockchain to represent securities and manage
capitalization tables, stockholders can seamlessly transfer
securities between entities, and companies and their affiliates can
be provided with a complete historical record of issuance and
transfer of their securities. Importantly, the use of a
blockchain-based distributed ledger can also offer integrity, audit
ability, issuance governance and transfer of ownership
capabilities.
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing,
exchange technology, listing, information and public company
services across six continents. Through its diverse portfolio of
solutions, Nasdaq enables customers to plan, optimize and execute
their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global
capital markets. As the creator of the world's first electronic
stock market, its technology powers more than 70 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
Nasdaq is home to more than 3,500 listed companies with a market
value of approximately $9.5 trillion and more than 10,000 corporate
clients. To learn more, visit: nasdaq.com/ambition or
business.nasdaq.com.
About Nasdaq Private
Market
Nasdaq Private Market is the premier equity services provider to
private companies. Our end-to-end solution enables private
companies to digitize, integrate, and control all of their
equity-related functions, including cap table management,
shareholder liquidity, investor relations, and capital raising.
Whether a company seeks to optimize an eventual IPO or remain
private permanently, Nasdaq Private Market provides comprehensive
capital market support to meet its needs. For certain eligible
investors and shareholders, Nasdaq Private Market is a place to
discover and engage with some of the most exciting private
companies. The NASDAQ Private Market, LLC is not: (a) a registered
exchange under the securities exchange act of 1934; (b) a
registered investment adviser under the investment advisers act of
1940; or (c) a financial or tax planner, and does not offer legal
advice to any user of the NASDAQ Private Market website.
Securities-related services are offered through NPM Securities,
LLC, a registered broker-dealer and alternative trading system,
which is a member FINRA/SIPC and a wholly-owned subsidiary of the
NASDAQ Private Market, LLC. Securities offered through NPM
Securities, LLC are not listed or traded on the NASDAQ Stock Market
LLC, nor are the securities subject to the same listing or
qualification standards applicable to securities listed or traded
on the NASDAQ Stock Market LLC. To learn more, visit
www.npm.com.
About Chain
Chain.com is the leading block chain infrastructure provider to
financial institutions and enterprises. Chain's platform enables
the development and operation of reliable, secure, and private
block chain based products and services. Chain's
infrastructure services can power any asset type--including
securities--on any block chain. Chain's customers span the
payments, banking, capital markets, telecom, and energy
markets. The company also serves thousands of individual
developers and start-ups building innovative products with block
chain technology.
Chain.com is based in San Francisco, CA and is backed by leading
venture firms Khosla Ventures, RRE Ventures, and Thrive
Capital.
NDAQG
CONTACT: Nasdaq
Media
Ryan Wells
646 581 4286
Ryan.wells@nasdaq.com
Investor Relations
Ed Ditmire
212 401 8737
ed.ditmire@nasdaq.com
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