London Stock Exchange Group plans to use blockchain to build a digital asset trading platform

The Financial Times reports that the London Stock Exchange Group (LSEG) is poised to craft an innovative digital trading platform leveraging blockchain technology, predominantly for digital asset content transactions, rather than cryptocurrency exchanges. Concurrently, the objective is to burgeon into a globally responsive digital asset trading platform.

Murray Roos, the overseer of Capital Markets at the London Stock Exchange Group, illuminated that this initiative materialized only after ensuring that blockchain technology had matured to a juncture congruous with their vision. The blueprint revolves around expediting the efficiency of traditional asset transactions via digitalization, while also resonating with the increasingly prevalent trend of digital asset trading.

Beyond mere integration of blockchain technology, this platform encompasses processes ranging from issuance and trading to reconciliation and settlement of accounts. Contrasted with previous digital asset trading platforms operating through blockchain, which predominantly fixated on the transactional process, Murray Roos believes that LSEG’s proposed platform will encapsulate the holistic digital asset trading ecosystem.

Steering this venture is expected to be LSEG’s CEO, Julia Hoggett. The undertaking might materialize via the inception of a novel entity, with aspirations of evolving into a globally congruent digital asset trading platform. The preliminary approach envisages launching a more modest trading platform next year, with the anticipated focus being on the opaque and frequently traded private digital asset market.