NASDAQ (NASDAQ: NDAQ) and Talos announced a partnership to integrate Talos' digital asset infrastructure with NASDAQ's Calypso and Trade Surveillance platforms for managing tokenized collateral across traditional and digital asset markets.

The integration connects Talos' digital asset capabilities with NASDAQ Calypso, a platform used by financial services firms to manage risk, margin, and collateral requirements. The partnership aims to address barriers preventing institutional adoption of tokenized collateral by enabling unified management of both on-chain and off-chain collateral workflows.

Tokenized collateral represents traditional financial assets on distributed ledger technology, enabling real-time asset mobility across platforms and jurisdictions. A NASDAQ report cited in the announcement found that 25% of collateral is currently tied up in corrective and non-interest-bearing measures, representing over $35 billion in excess or non-remunerated collateral.

"This partnership solves a fundamental challenge facing institutional markets: the inability to manage exposure across markets with a single risk and asset lens," said Roland Chai, Executive Vice President at NASDAQ.

Anton Katz, CEO and Co-Founder of Talos, stated that "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 also provides Talos clients access to NASDAQ Trade Surveillance, which detects potential market abuse across mainstream and digital asset markets. The platform monitors trading patterns including layering, spoofing, wash trading, and cross-market manipulation.

The information is based on a press release statement from the companies.