The London Stock Exchange Group is planning to develop a blockchain powered trading platform for a seamless trading experience and improve the trading process for traditional assets. It is the first major stock exchange to announce such plans, and it could pave the way for other exchanges to follow suit.
According to a report from the Financial Times, the head of Capital Markets at LSE Group, Murray Roos, confirmed that the company is exploring the potential of a blockchain technology platform while clarifying that the exchange is not building anything to support crypto assets.
Murray Roos said that he has asked Julia Hoggett, the Head of LSE Group, to lead the project while proposing the plan.
“The idea is to use digital technology to make a process that is slicker, smoother, cheaper, and more transparent [ ]… and to have it regulated,” Ross states in the report.
LSE Group is considering registering a separate entity for its digital markets business while hoping to make it functional within the next year. The company is already in discussion with the UK government, regulators, and several jurisdictions.
Being one of the leading traditional markets, the LSE is currently the only stock exchange that is looking to incorporate blockchain. It has also expressed interest in digital assets while enabling a product to offer Bitcoin derivatives.
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