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LSEG explores blockchain for cross-asset digital 'ecosystem'
  + stars: | 2023-09-04 | by ( ) www.reuters.com   time to read: +2 min
Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/file photo Acquire Licensing RightsSept 4 (Reuters) - London Stock Exchange Group (LSEG.L) is looking into using blockchain to build what it described on Monday as "an end-to-end digital market ecosystem to raise and transfer capital across asset classes". Blockchain, best known as the technology underpinning cryptocurrencies such as bitcoin and other crypto assets, is a digital ledger which records and verifies transactions. LSEG's move comes as a number of mainstream financial institutions are talking about the potential for blockchain to streamline the process of issuing and trading financial assets. "The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent .
Persons: Toby Melville, Murray Roos, Roos, LSEG, Akanksha, Radhika Anilkumar, Savio D'Souza, Rashmi Aich, Alexander Smith Organizations: London Stock Exchange, REUTERS, Financial Times, Reuters, Treasury, Thomson Reuters, Thomson Locations: Canary Wharf, London, Britain, LSEG, Bengaluru
Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/file photo Acquire Licensing RightsSept 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. LSEG is considering using a separate legal entity for the digital markets business, the report said on Monday, adding that it hoped to have it running within the next year, subject to regulatory approvals. The London Stock Exchange Group did not immediately respond to a Reuters request for comment. The reported move comes at a time when a number of mainstream financial institutions are talking about the potential for blockchain to streamline the process of issuing and trading financial assets.
Persons: Toby Melville, Murray Roos, Blockchain, Roos, Akanksha, Savio D'Souza, Rashmi Organizations: London Stock Exchange, REUTERS, Financial Times, LSE Group, LSE, Treasury, London Stock Exchange Group, Thomson Reuters, Reuters, Thomson Locations: Canary Wharf, London, Britain, LSEG, Bengaluru
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