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The London Stock Exchange Group (LSEG) is developing a new blockchain-powered trading venue, according to a new report.<\/p>\n
Murray Roos, a group head of capital markets at LSEG, tells<\/a> the Financial Times that his company is \u201cdefinitely not building anything around crypto assets.\u201d<\/p>\n Rather, Roos says they plan to use blockchain technology to make traditional asset trading more efficient.<\/p>\n \u201cThe idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent\u2026 and to have it regulated.\u201d<\/em><\/p>\n LSEG operates<\/a> the London Stock Exchange, one of the oldest exchanges in the world. It\u2019s currently the ninth-largest global stock exchange, with its listed companies clocking a combined market capitalization of around $3.26 trillion, according to Yahoo! Finance<\/a>.<\/p>\n Roos says LSEG aims to become the first large stock exchange to have a blockchain-powered ecosystem that covers every needed function for financial assets. The exchange is reportedly talking to regulators in the United Kingdom (UK) and other jurisdictions in an effort to roll out the blockchain-powered trading venue sometime in 2024.<\/p>\n \u201cThe ultimate goal is a global platform that allows participants in all jurisdictions to be able to interact with people in other jurisdictions completely abiding by rules, laws and regulations, potentially multiple jurisdictions simultaneously, which is something that hasn\u2019t been possible in an analog world.\u201d <\/span>\u00a0\u00a0<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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