The London Stock Exchange (LSE) Group is reportedly planning to establish a blockchain-based platform to facilitate traditional financial assets. According to reports from the Financial Times, the company has spent the past year exploring the potential of a blockchain-based trading venue. Murray Roos, the head of capital markets at the London Stock Exchange Group, stated that the research had reached a stage where they decided to progress with their plans. Importantly, Roos clarified that the initiative would not revolve around cryptocurrencies; blockchain technology to enhance the efficiency of holding, buying, and selling conventional assets.
The core idea, as per Roos, is to employ digital technology to create a more streamlined, cost-effective, and transparent process for dealing with traditional assets. He also emphasized that the platform would be subject to regulation. The London Stock Exchange Group intends to wait for investor readiness and the maturation of public blockchain technology before embarking on the project. Roos asserted that if the plan materializes, the LSEG would be the first major global stock exchange to provide investors with an end-to-end blockchain-powered ecosystem Simultaneously, other traditional financial infrastructures are also expressing interest in incorporating blockchain technology. For instance, on August 31, the SWIFT banking messaging network published a report on addressing interoperability challenges among different blockchains. networks.
Beyond financial infrastructure, the airline industry is also embracing blockchain-based technology. On the same day, Lufthansa launched its non-fungible token (NFT) loyalty program on the Polygon network. NFT holders will have the opportunity to earn rewards such as lounge access and flight upgrades.
