Nasdaq might set a platform to issue security tokens
It has been announced recently by The Block, crypto and blockchain information source, that U.S. exchange operator Nasdaq admits the possibility of launching a new crypto project. According to the source that refers to people familiar with the situation, it will constitute a platform issuing and trading security token offerings and therefore potentially being a new market participant.
Nasdaq is well-known as a company working with technology firms with Tesla and Facebook amongst them and bringing them to market. And now it is reportedly developing a platform that would let establishments raise funds by issuing security token offerings (STOs) traded on a blockchain. This looks like a step towards compromise, since STOs try to correspond to the borders of existing in the States securities law, unlike some initial coin offerings.
The company has already started speaking with several firms such as blockchain startup Symbiont. If everything goes well and the platform successfully enters the market, it would join some companies like Polymath or TrustToken providing such services.
As popularity for ICOs has significantly decreased in the past few months on account of the fear that utility tokens may end up being only unregistered securities, the project related to this sphere have to go down the STO route. It is believed that the aforementioned platform would make possible listing and trade of the tokenized securities without leaking any data.
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