BITCOIN, BLOCKCHAIN, ETHEREUM

Nasdaq to Bring Bitcoin, Ethereum Indices on Feb. 25

Nasdaq has announced they have partnered with blockchain data and research company Brave New Coin and plan to add indices for bitcoin and ethereum later this month.

The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) “are each designed to provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets,” Nasdaq explains.

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“Both indices are calculated using a methodology that has been independently audited against key IOSCO principles.”

The BLX is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010.

Likewise, the ELX has been calculated back to 2014.

Last month, Nasdaq, Citigroup Inc., and several others led a $20 million funding round of blockchain start-up, Symbiont.

The New York-based company, Symbiont.io, applies blockchain technology to capital markets, and has developed its own blockchain, called Assembly, allowing financial institutions to utilize to share and verify data.

In November, Nasdaq announced a partnership with VanEck to “bring a regulated crypto 2.0 futures-type contract” sometime this year. However, no further specifics have been disclosed on the potential contract since then.

Stay tuned to BlockchainDaily.News for further developments regarding Nasdaq’s blockchain plans.

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ALTCOIN, BLOCKCHAIN

Blockchain Startup Symbiont Receives $20 Million From Nasdaq Inc., Citigroup Inc.

Blockchain start-up, Symbiont, has raised $20 million from Citgroup Inc., Nasdaq Inc, and several other firms.

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The New York-based company, Symbiont.io, applies blockchain technology to capital markets, and has developed its own blockchain, called Assembly, allowing financial institutions to utilize to share and verify data.

Nasdaq Ventures, a subsidiary of the exchange operator concentrated on financial technology, is the main investor in Symbiont’s series B funding round, according to the company.

Mike Novogratz’s Galaxy Digital Holdings Ltd. and Raptor Group Holdings, an investment company backed by Jim Pallotta’s family office, were also among the companies involved.

“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,” Symbiont Chief Executive Officer Mark Smith said in an interview.

“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 utilizes smart contracts to help increase settlement times for syndicated loans and enhance efficiency in the mortgage bond market.

The company has partnered with Vanguard Group Inc., to utilize blockchain in updating the index data behind mutual funds.

Symbiont will use the newly raised cash to fund work on data management, mortgages, private equity and syndicated loans, according to the statement.

Nasdaq will explore additional opportunities to use Symbiont’s Assembly platform with existing and new clients that are seeking to use smart contracts or to tokenize assets, a process that involves transforming real-world assets into digital contracts.

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