The London Stock Exchange confirmed that it is going to adopt Bitcoin’s back-end technology to provide a better level of trading experience service to the customers.
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. The total market cap value of trading assets on this platform is currently more than $3.18 trillion, which is itself a huge number for any stock exchange. This platform was founded nearly 221 years ago by English financiers Thomas Gresham and Sir Richard Clough.
The Financial Times (FT) reported that the London Stock Exchange is looking to develop & test the blockchain technology-powered platform for traditional assets trading.
The head of the capital Markets at the London Stock Exchange (LSE) Group, Murray Roos, said that the company reached a point in the blockchain sector where it decided to move its plans forward.
The LSE Group official confirmed that the company is not going to use any Cryptocurrency but only use blockchain technology to provide an enhanced form of traditional assets trading, buying, and holding on the platform.
In short, LSE confirmed that it is not going to adopt cryptocurrencies, instead will use Crypto’s back-end technology.
According to Roos, the LSE Group waited for this time to get support from the investors to go with the blockchain technology adoption plan and if this plan comes into reality then LSE will be the first stock exchange in the world that will provide an end-to-end blockchain-powered ecosystem for investors.
It is worth it to note that huge numbers of giant traditional financial & commercial companies explored the idea of blockchain technology adoption. The race of blockchain technology adoption surged more rapidly in the last couple of two years.
Recently bank messaging network SWIFT published a report to share a small experiment that the company did with the use of blockchain technology. SWIFT confirmed that it successfully tested the blockchain technology to solve the interoperability challenges with multiple blockchain networks simultaneously.