LSEG Eyes Blockchain-Based Digital Assets Business

The London Stock Exchange Group (LSEG) has cooked up plans to launch a new digital markets business, which will provide extensive trading of traditional financial assets on the blockchain technology, reportedly.

The new project will be spearheaded by Julia Hoggett, head of the London Stock Exchange, one unit in the broader group.

It will leverage the technology that underpins popular tokens like bitcoin to improve the efficiency of buying, selling and holding traditional assets, according to Murray Roos, head of capital markets at the LSEG.

LSEG plans to operate the new business under a separate legal entity, which is expected to go live within the next year, subject to regulatory approval.

Once the project has been completed, LSEG would become the first large global stock exchange to deliver an "end to end" blockchain powered ecosystem to investors.

The new digital business was likely to focus on private markets at first stage as activity there was particularly cumbersome and opaque, noted Murray Roos.

Last week, Fazzaco reported that LSEG has opened a new flagship office​ in Kuala Lumpur, Malaysi, reinforcing its commitment to nurturing local talent and fostering economic growth in Malaysia.