Global News

CEO of London Stock Exchange sees Blockchain in use

In a recent piece published on CNBC, the CEO of the London Stock Exchange, Mr. Nikhil Rathi hinted that the blockchain could find some use in the UK stock market.

As he is quoted in the CNBC interview piece, “You can certainly see distributed ledger technology having an application in the issuance process.  “I can see that technology being used in settlement too.”

Rathi said that the exchange has noticed an “interesting array of different ideas” from rival venues, adding “we’ll see which ones gain market traction.”

Switzerland’s SIX exchange for instance is looking to launch a blockchain-based platform to speed up the trading process, while the Gibraltar Stock Exchange has launched digital versions of securities like corporate bonds.

London’s market venue recently bought a minority stake in a company called Nivaura, which claims to have issued the world’s first automated cryptocurrency-denominated bond. The London Stock Exchange has been testing the issuance and trading of equities with Nivaura in a regulatory sandbox.

News Desk

Unlock News Desk, is a group of Blockchain and Crypto enthusiastic young people, working to keep Unlock readers up to date with the industry news. Connect with the team via email: info(@)

Related Articles

Back to top button