Nasdaq, the largest stock exchange in the US, has decided to repurpose its blockchain technology developments after discontinuing its plans to launch a custodian business for digital assets due to regulatory concerns. Despite this setback, Nasdaq remains focused on expanding its technology services related to tokenized assets.

The new strategy for Nasdaq involves using its blockchain technology to develop carbon markets. The goal is to create an institutional-grade technology platform that powers digital assets and supports markets like carbon.

This technology will enable market operators and registries to create standardized digital credits and distribute them with full auditability throughout the transaction lifecycle. Nasdaq has also developed a carbon taxonomy framework that can incorporate new types of credit as the market evolves.

Tal Cohen, co-president of Nasdaq, stated that they still plan to launch the technology, but as a service rather than a custodian business. Cohen also expressed Nasdaq’s willingness to collaborate with European legislators to address market challenges in Europe.

By venturing into the development of carbon markets, Nasdaq aims to position itself as a leader in the emerging sector of asset tokenization. This initiative demonstrates the versatility of blockchain technology, extending its potential beyond cryptocurrencies.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries
Sentiment	positive
Relevance Score	1
People	Tal Cohen
Companies	Nasdaq
Currencies	None
Securities	None