The UK-Based Giant Company is Preparing to Establish a Blockchain Supported Platform!

London Stock Exchange Group (LSE) is actively working on the development of a blockchain-powered trading platform, LSE Group Head of Capital Markets Murray Roos told the Financial Times in an interview.

London Stock Exchange Group to Develop Blockchain-Powered Trading Platform

Roos announced that Julia Hoggett, President of the London Stock Exchange, has been tasked with leading this blockchain project.

Emphasizing that the exchange group is not building anything to support cryptocurrencies, Roos explained that the primary goal is to leverage digital technology to increase the efficiency, transparency and cost-effectiveness of existing processes within regulated parameters.

“The idea is to use digital technology and streamline it to create a smoother, cheaper and more transparent process,” Roos elaborated.

He emphasized that the project aims to facilitate and improve the buying and selling process for traditional assets.

The LSE’s exploration of blockchain technology is in line with a wider trend in traditional financial markets. Many financial institutions are exploring the tokenization of assets as a way to increase efficiency in capital markets.

BlackRock CEO Larry Fink emphasized in a shareholder letter in March that asset tokenization could lead to more efficient value chains and affordable access for investors.

The Bank for International Settlements also noted in a report published in July that tokenizing claims on real-world assets is one way for traditional finance and cryptocurrencies to collaborate, potentially leading to increased investment in tokenized assets and spurring cryptocurrency growth.

*This is not investment advice.

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Source: https://en.bitcoinsistemi.com/the-uk-based-giant-company-is-preparing-to-establish-a-blockchain-supported-platform/