NASDAQ and Citi to Leverage Chain's Blockchain Infrastructure Platform

Nasdaq, Inc. (Nasdaq:NDAQ) and Citi (NYSE: C) Treasury and Trade Solutions have announced a new integrated payment solution that enables straight through payment processing and automates reconciliation using Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology. It leverages Chain's blockchain infrastructure platform.

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The developers said that a number of payment transactions have already been concluded including Citi's automated processing of cross-border Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term via a link between the CitiConnect for Blockchain connectivity platform and the Linq Platform powered by the Nasdaq Financial Framework.

"This new payment capability marks a milestone in the global financial sector and represents an important moment in the commercial application of blockchain technology," said Adena Friedman, CEO, Nasdaq. "Through this effective integration of blockchain technology and global financial systems, we can realize greater operational transparency and ease of reconciliation, which can have profound implications for outdated administrative functions in the capital markets. We are excited about this accomplishment in collaboration with our partners, Citi and Chain, and are looking forward to continuing our work together to scale this offering."

Naveed Sultan, Citi's Global Head of Treasury and Trade Solutions Group said, "CitiConnect for Blockchain provides a crucial bridge between blockchain platforms and Citi's global financial network. Our partnership with Nasdaq showcases Citi's client-centric approach to innovation and is an example of how we actively engage with our clients to co-create innovative, leading and differentiated solutions for the global market."

"Chain is delighted that our technology is supporting this industry leading network. Through this effort, we have seen firsthand that Citi and Nasdaq are pioneers, successfully leveraging breakthrough technology in order to enable world-class solutions for their clients" said Adam Ludwin, CEO of Chain.