Nasdaq and Talos Partner on Tokenized Collateral Management Solution

Tokenized collateral maps traditional assets such as securities and cash equivalents onto distributed ledgers, allowing them to be moved across platforms and jurisdictions in real time. Institutions still manage on-chain and off-chain positions separately, making it difficult to connect risk, margin and compliance processes. The Nasdaq-Talos partnership could therefore help unlock idle capital and integrate traditional finance with digital-asset markets.

Nasdaq and Talos announced on March 23, 2026, that they would integrate Talos' digital-asset infrastructure with Nasdaq Calypso and Trade Surveillance. Nasdaq said 25% of collateral, representing more than $35 billion, is tied up in remedial or non-interest-bearing arrangements. The solution will unify on-chain and off-chain management while detecting spoofing, wash trading and cross-market manipulation.