The London Stock Exchange (LSE) Group is reportedly planning to establish a blockchain-based platform designed for traditional financial asset trading.
The London Stock Exchange (LSE) Group is reportedly advancing its plans to establish a blockchain-based platform designed for traditional financial assets, according to a report by the Financial Times.
The project has been in development for about a year, and the decision to move forward with it has been reportedly confirmed by Murray Roos, the head of capital markets at LSE Group.
Roos clarified that the platform would not be centered around cryptocurrencies but instead aims to leverage blockchain technology to enhance the efficiency of handling, purchasing, and selling traditional financial assets.
The ultimate goal is to create a more streamlined, cost-effective, and transparent process for traditional assets, all while adhering to regulatory standards.
The LSE Group's decision to proceed due to the readiness of investors and the maturity of public blockchain technology. If successful, LSE Group would become the first major global stock exchange to offer a comprehensive blockchain-powered ecosystem for investors.
This move is line with other major financial institutions exploring blockchain integration to improve operations and solve challenges. For instance, Swift and Chainlink recently concluded a blockchain interoperability test with major banking institutions.
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