- September 3, 2023
- Posted by: legaleseblogger
- Category: Related News
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London Stock Exchange Group Plans to Launch New Digital Markets Business
Sept 4 (Reuters) – The London Stock Exchange Group (LSEG.L) has drawn up plans for a new digital markets business to offer extensive trading of traditional financial assets on the blockchain technology known for powering cryptocurrency, the Financial Times reported.
The company had been examining the potential for a blockchain-powered trading venue for around a year and reached an “inflection point” where it decided to take plans forward, Murray Roos, head of capital markets at the LSE Group, told FT in an interview.
Blockchain is a digital ledger which records and verifies transactions.
LSE is not building anything around cryptoassets but it is looking to use the technology that underpins tokens like bitcoin to improve the efficiency of buying, selling and holding traditional assets, Roos told FT.
“The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparentÔÇë.ÔÇë.ÔÇë.ÔÇëand to have it regulated.”
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