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LSE Group Ventures into Blockchain for Traditional Asset Trading

Max Clark by Max Clark
September 4, 2023 - 9:42 am
in adoption news, blockchain news
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lseg LSE Group London Stock Exchange
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Introduction

The London Stock Exchange Group (LSEG) is stepping into the future with plans for a cutting-edge digital market. This new venture aims to harness the power of blockchain technology, not for cryptocurrency, but to streamline traditional financial asset transactions.

Exploring Blockchain’s Potential

For approximately a year, LSEG has been investigating the feasibility of a trading platform rooted in blockchain. This research has culminated in a crucial decision to move forward with this innovative initiative. Murray Roos, LSEG’s head of capital markets, recently shared these insights in a discussion with the Financial Times.

Why Blockchain?

Blockchain, in essence, is a digital ledger that captures and authenticates transactions. While LSEG does not intend to focus on cryptocurrencies like Bitcoin, the goal is to leverage the underlying technology to enhance the process of purchasing, selling, and maintaining conventional assets. As Roos puts it, the objective is to refine the process to be “slicker, smoother, cheaper and more transparent” and to ensure it is within regulatory bounds.

Structural Decisions Ahead

There’s contemplation within LSEG to house the digital markets business within a distinct legal framework. The timeline is ambitious; the organization anticipates launching this service within the upcoming year. However, this is contingent upon acquiring necessary regulatory clearances.

Engaging Regulatory Bodies

To smoothen the path, LSEG is actively communicating with regulatory authorities. This includes dialogues spanning multiple countries, in conjunction with engagements with the UK’s government and Treasury.

In sum, this groundbreaking move by the London Stock Exchange Group signifies a blend of traditional financial systems with the latest in blockchain technology, underscoring the potential of blockchain beyond just cryptocurrencies.

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Max Clark

Max Clark

Max Clark is a content writer specialising in the cryptocurrency space. He is very enthusiastic about altcoins, NFTs, and the Metaverse. Max is convinced that the network is capable of replacing the existing global monetary system and granting financial independence to billions of people all over the world. Max loves to go on adventures, play sports, and read books when he has free time outside of work. He has also worked in the financial industry before, so he knows how the world's banking system works and how to deal with clients in the tech and finance industries.

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