- LSE Group has shared that it is planning to introduce a blockchain-based platform.
- It became the first exchange to host traditional finance on the digital asset platform.
The London Stock Exchange (LSE) Group has shared that it is planning to introduce a blockchain-based platform to offer traditional financial assets as a part of its digital business plans. This will make it the first exchange to host traditional finance on the digital asset platform.
On September 4, the Financial Times released a report announcing that the London Stock Exchange plans to create a blockchain-based platform for traditional financial assets. According to the report, using blockchain technology would make the process easier, smoother, cheaper, and more transparent.
Murray Roos, LSE Group’s head of capital markets, has stated that the company’s plans for a blockchain-based platform have reached an inflection point and will move forward. According to Ross, the plans include offering the blockchain technology that powers the cryptocurrencies, including Bitcoin, and the traditional currencies.
LSE Group Became First to Offer Blockchain-Based Platform
The report also mentioned that the exchange did not build anything around the cryptocurrencies. However, the company will use blockchain technology to increase the efficiency of holding, buying, and selling traditional assets. And also noted the need for regulation around the new blockchain-based trading options.
Roos also added that LSE Group will wait until investors are ready and the public blockchain is good enough before proceeding with the project. Moreover, with the new project, LSE Group became the first major stock exchange to offer traditional assets on a blockchain-based platform.
The plans will involve a separate legal entity to capture the digital marketer’s interest in the LSEG. This also comes at the time of the UK’s drive to promote global asset trading and innovative ideas. At the same time, other traditional financial infrastructure plans include integrating blockchain technology.