Nasdaq blockchain platform Linq welcomes its first private placement of shares

Blockchain startup Chain has used Nasdaq’s private markets blockchain solution Linq to issue shares in the company.

In a statement, Nasdaq said Chain was the first company to use Linq technology to complete and record private securities transactions, and Nasdaq CEO Bob Greifeld called it a "significant development" for the blockchain industry.

For this transaction, Chain used the Linq platform to issue equity in the company to new investors, while Nasdaq benefited from reduced settlement time. Neither company provided details on the amount of the investment, or whether this round of financing was part of Chain’s recent $30 million Series A financing round or a separate round of fundraising.

Nasdaq’s Linq proof-of-concept project, first announced in October, uses blockchain technology to manage shares of pre-IPO companies. Currently, six companies, including ChangeTip, Chain, Peernova, Synack, Tango and Vera, have become internal test projects of the Linq platform.

Greifeld said:

“With this initial application of blockchain technology, we are beginning a process that could revolutionize the core of capital markets infrastructure systems. The implications for settlement and outdated administrative functions are profound.”

It is reported that Nasdaq is just one of the participants in the market targeting the private equity market.

For example, New York-based Symbiont issued the first “smart security” on a blockchain in August, and in June, e-commerce giant Overstock issued a “crypto bond” through its tØ platform.

Original article: http://www.coindesk.com/chain-issues-investor-shares-nasdaq-linq/
By Pete Rizzo
Compilation: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/chain-nasdaq-linq)