Nasdaq and Microsoft blockchain services have entered into a partnership to ensure that different technologies can work together. According to Microsoft, its Azure blockchain services will integrate with the Financial Framework of Nasdaq that offers software for exchanges, traders and clearinghouses for interacting with each other. This blockchain system aims to bring myriad technologies on one platform for Nasdaq customers.
As a part of the partnership deal, the system will make it easier to manage delivery, settlement of transactions, payment, match sellers and buyers and payment. The Financial Framework from Nasdaq is planning to offer its customers the capability to use blockchains of different types via one common interface. The company is hoping that it will accelerate and ease blockchain use and will also let customers choose the best options as per the need of the situation.
Both the companies, Microsoft and Nasdaq are already doing their work in the blockchain space and cryptocurrencies. Nasdaq announced some time ago that it is planning to list multiple cryptocurrencies by 2019.
Prior to the launch of blockchain services in partnership with Microsoft, a few months ago, Nasdaq arranged a closed-door meeting with representatives from more than half a dozen companies in Chicago. The companies that took part in the meeting mostly were cryptocurrency exchanges including Gemini, Coingape reported.
Microsoft on its own is also working to improve its standing in the blockchain market. Recently it teamed up with Starbucks, a Seattle-based coffee giant and with Intercontinental Exchange. Together these three companies are planning to launch a new firm called Bakkt which will help the institutions and consumers to buy, sell, store and send cryptocurrencies on the global platform.
The Microsoft business development Chief Peggy Johnson made the announcement about the blockchain services at the CIO Exchange conference organized by Bloomberg. According to Bloomberg, the gathering was organized with the intention to encourage the industry to improve the cryptocurrency image by adding more validity to it in the global markets.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]