coinspress.com
The London Stock Exchange Group (LSEG.L) is exploring the utilization of blockchain technology to create a comprehensive digital marketplace ecosystem for the efficient transfer and raising of capital across various asset categories.
Murray Roos, who heads the capital markets division at LSEG, recently disclosed to the Financial Times that the London-based exchange has been evaluating the potential of a blockchain-driven trading platform for approximately one year and has now reached a critical juncture.
Blockchain, renowned for its role as the foundational technology behind cryptocurrencies like Bitcoin and other digital assets, operates as a digital ledger that records and validates transactions.
LSEG’s strategic move aligns with the broader discussions within the financial industry about blockchain’s potential to streamline the issuance and trading of financial instruments.
According to a statement provided to Reuters via email, LSEG is currently investigating the development of a comprehensive digital marketplace ecosystem aimed at facilitating smoother and more cost-effective capital transfers across diverse asset categories.
Roos emphasized in an interview with the Financial Times that LSEG’s focus is not on cryptocurrencies but rather on leveraging blockchain technology to enhance the efficiency of traditional asset buying, selling, and custody processes. He noted the objective is to employ digital technology to create a more efficient, transparent, and regulated workflow.
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LSEG is contemplating the establishment of a distinct legal entity for its digital markets division, with aspirations to launch it within a year, subject to regulatory approvals.
According to reports, the company is actively engaged in discussions with regulators, various jurisdictions, and the British government and Treasury.