London Stock Exchange Group Plans Blockchain-Based Platform for Traditional Financial Assets


London Stock Exchange Group Plans Blockchain-Based Platform for Traditional Financial Assets
courtesy of cointelegraph.com

LSE Group Explores Blockchain Technology

The London Stock Exchange (LSE) Group has been actively researching the potential of blockchain-based trading for the past year, as reported by Financial Times. Murray Roos, the head of capital markets at LSE Group, revealed that their efforts have progressed to a point where they are now ready to move forward with their plans.

Focus on Traditional Assets

While LSE Group will not be incorporating cryptocurrencies into their platform, they aim to use blockchain technology to improve the efficiency of handling, buying, and selling traditional financial assets. Roos explained that their goal is to create a process that is faster, cheaper, and more transparent for investors.

Emphasis on Regulation and Investor Readiness

LSE Group will ensure that their blockchain-powered platform is fully regulated, providing a secure environment for investors. They waited until investors were ready and the technology had matured before proceeding with the project.

LSE Group Poised to Lead the Way

If successful, LSE Group will become the first major global stock exchange to offer an end-to-end blockchain-powered ecosystem to investors, setting a significant precedent in the financial industry.

Blockchain Integration Across Industries

It is not just financial infrastructures that are exploring the benefits of blockchain technology. The bank messaging network SWIFT recently published a report on how it can connect with blockchains to address interoperability challenges between different blockchain networks.

In addition, Lufthansa Airlines has taken a step towards integrating blockchain by launching a nonfungible token (NFT) loyalty program on the Polygon network. NFT holders will have the opportunity to earn rewards such as lounge access and flight upgrades.






Did you miss our previous article...
https://trendinginthenews.com/crypto-currency/arbitrum-stylus-a-tool-to-improve-ethereum-virtual-machines-and-onboard-more-developers