Nasdaq has unveiled its blockchain technology initiative.

In May the stock exchange previewed its plans to integrate blockchain tech into its private markets platform, reintroduced Tuesday as a digital-ledger technology called Nasdaq Linq.

The platform uses blockchain technology to issue shares for privately held companies on the Nasdaq Private Market and record their transfers. Clients receive a comprehensive record of issuance and transfer.

Nasdaq framed it in a press release as a system that would improve efficiency and transparency in managing and auditing securities, which are among the main reasons the blockchain's record-keeping capabilities began winning over financial services companies.

Startups Chain, ChangeTip, PeerNova, Syntack, Tango and Vera are among Linq's inaugural private company clients; Chain recently raised $30 million from investors that included Nasdaq.

Nasdaq's in-house technologists developed Linq in collaboration with Chain and user-experience design firm IDEO. The platform is meant to complement the private market's cloud-based capitalization table management and stock plan administration service, ExactEquity.