London Stock Exchange Group Pioneers Blockchain-Powered Trading Platform for Traditional Assets
Summary:
London Stock Exchange Group plans to create a blockchain-based platform for traditional financial assets, aiming to enhance efficiency and transparency. The project, regulated and not focused on cryptocurrencies, will make LSE the first major stock exchange to offer a comprehensive blockchain-powered ecosystem. Other financial institutions and airlines are also exploring blockchain integration.
The London Stock Exchange (LSE) Group is reportedly set to develop a blockchain-powered platform that will offer traditional financial assets, according to a report by the Financial Times. The company has been exploring the potential of a blockchain-based trading venue for a year and has now decided to push forward with its plans. LSE Group's head of capital markets, Murray Roos, clarified that the focus will not be on cryptocurrencies, but rather on using blockchain technology to improve the efficiency of buying, selling, and holding traditional assets. The aim is to create a smoother, more cost-effective, and transparent process. The project will also be regulated. If successful, LSE Group will become the first major global stock exchange to offer a complete blockchain-powered ecosystem to investors. Other traditional financial institutions and even an airline carrier are also starting to embrace blockchain technology in their operations.
Published At
9/4/2023 7:49:33 AM
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