Nasdaq is set to integrate Talos’ digital asset infrastructure into its Calypso and Trade Surveillance platforms, with the aim of bringing tokenised collateral into mainstream institutional workflows.
Roland Chai
Specifically, the collaboration addresses long-standing friction in connecting digital assets with established collateral and risk management systems.
Under the agreement, institutions will be able to manage on and off-chain collateral in a single environment, combining Talos’ front-to-back digital asset capabilities with Nasdaq’s Calypso platform – which is widely used for margin, risk and collateral management across traditional asset classes.
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The integration is expected to provide a more consistent view of exposure across asset types and extend connectivity to custodians and trading venues across both traditional and digital markets.
Roland Chai, executive vice president at Nasdaq, said: “This partnership builds on a series of strategic initiatives designed to converge on- and off-chain market ecosystems, while preserving the liquidity, transparency and integrity of regulated markets.”
Moreover, the collaboration is intended to tackle the fragmentation of collateral and risk workflows across digital and traditional infrastructures, providing institutions with a unified framework as they scale tokenisation strategies.
Anton Katz, co-founder and chief executive of Talos, added: “The evolution toward tokenised collateral is a natural progression for institutional capital markets.
“By combining Talos’s digital asset infrastructure with Nasdaq’s Calypso and Trade Surveillance platforms, firms can connect workflows for execution, risk, collateral and compliance to reduce operational friction across both on- and off-chain asset classes.”
The partnership will also see Talos clients gain access to Nasdaq’s Trade Surveillance platform, extending institutional-grade monitoring to digital asset trading activity.
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The firms said the integration will support institutions in aligning digital asset activity with existing compliance and surveillance frameworks, reinforcing market integrity as participation in tokenised assets expands.