London Stock Exchange Lists Blockchain ‘Token’ Shares in a First for the City

London Stock Exchange Lists Blockchain ‘Token’ Shares in a First for the City



London Stock Exchange Lists Blockchain ‘Token’ Shares in a First for the City

The London Stock Exchange has heralded in a new era by the first issuing of shares using blockchain tokens.

The move is seen by the city as bringing cryptocurrency by proxy as into regulated financial markets due to blockchain’s role as a driver for digital currencies. The company selling the tokenized shares, fintech company 2030, sold GBP 3 million (USD 3.9 million) worth of shares in a first for the city’s financial Mecca.

Earlier this year the London Stock Exchange indicated its growing interest in blockchain and cryptocurrencies when it hooked a deal with Hong Kong-based global fintech company, ATOM Group (ATOM) in order to enable its AXX Digital asset exchange to be able to use LSE tech. Head of LSEG’s global sales and marketing, Lorne Chambers, commented than traditional tech expertise was much sought after by crypto firms and the LSE was well placed to market it.

Earlier this month the LSEG listed the Invesco Elwood Global Blockchain ETF and recently invested in London-based cryptocurrency startup Nivaura, leading a GBP 15 million (USD 20 million) funding round.

The prestigious UK exchange’s recent movements indicate a growing interest in blockchain and cryptocurrencies from mainstream finance, although many city analysts continue to maintain a suspicious stance on all things crypto.

As of April 2018, the London Stock Exchange (LSEG) had a market capitalization of USD 4.59 trillion. It was founded in 1571, making it one of the oldest exchanges in the world.

 

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The post London Stock Exchange Lists Blockchain ‘Token’ Shares in a First for the City appeared first on BitcoinNews.com.

London Stock Exchange Lists Blockchain ‘Token’ Shares in a First for the City



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