London Stock Exchange Operator in Talks With Government To Launch New Blockchain-Powered Trading Venue: Report
The London Stock Exchange Group (LSEG) is developing a new blockchain-powered trading venue, according to a new report.
Murray Roos, a group head of capital markets at LSEG, tells the Financial Times that his company is “definitely not building anything around crypto assets.”
Rather, Roos says they plan to use blockchain technology to make traditional asset trading more efficient.
“The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent… and to have it regulated.”
LSEG operates the London Stock Exchange, one of the oldest exchanges in the world. It’s currently the ninth-largest global stock exchange, with its listed companies clocking a combined market capitalization of around $3.26 trillion, according to Yahoo! Finance.
Roos says LSEG aims to become the first large stock exchange to have a blockchain-powered ecosystem that covers every needed function for financial assets. The exchange is reportedly talking to regulators in the United Kingdom (UK) and other jurisdictions in an effort to roll out the blockchain-powered trading venue sometime in 2024.
“The ultimate goal is a global platform that allows participants in all jurisdictions to be able to interact with people in other jurisdictions completely abiding by rules, laws and regulations, potentially multiple jurisdictions simultaneously, which is something that hasn’t been possible in an analog world.”
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The post London Stock Exchange Operator in Talks With Government To Launch New Blockchain-Powered Trading Venue: Report appeared first on Crypto News Australia.
Filed under: Bitcoin - @ September 5, 2023 7:15 pm