According to a new report, the London Stock Exchange Group (LSEG) is developing a new blockchain-powered trading platform.
Murray Roos, Group Head of Capital Markets at LSEG, tells the Financial Times that his company “builds absolutely nothing 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 smoother, smoother, cheaper and more transparent… and to have it regulated.”
LSEG works the London Stock Exchange, one of the oldest stock exchanges in the world. It is currently the ninth-largest global stock exchange, with publicly traded companies reported to have a combined market capitalization of approximately $3.26 trillion. Yahoo! Finance.
Roos says LSEG aims to become the first major exchange with a blockchain-powered ecosystem that includes all the necessary functions for financial assets. The exchange is reportedly in talks with regulators in the United Kingdom (UK) and other jurisdictions in an effort to roll out the blockchain-powered trading platform sometime in 2024.
“The ultimate goal is a global platform that enables participants in all jurisdictions to communicate with people in other jurisdictions, fully complying with the rules, laws and regulations, possibly multiple jurisdictions at once, something that cannot be done in an analog system. has been possible. world.”
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