London Stock Exchange Group (LSEG) said it ease the first transaction on a new blockchain-based platform for private funds.
LSEG’s digital markets infrastructure (DMI)Built using Microsoft Azure, designed to use blockchain technology across the full life cycle of an asset, from issuing to settlement, with a greater scale and efficiency than existing systems, according to a Monday message.
Investment Manager Memberscap and Digital Asset Exchange Archax were boarding as DMI’s first clients and completed the first transaction to raise money for Memberscap’s MCM Fund 1.
LSEG said it will ensure that DMI works with current market services in blockchain technology as well as traditional funding (Tradfi).
DMI and its first transaction are “significant milestones showing appetite to end to end, interoperable, regulated financial markets” Blockchain technology, Dark Hajdukovic, LSEG’s head of digital markets Infrastructure, said the statement.
Tradfi exchanges in several markets have embedded blockchain technology in their platforms as a means of increasing efficiency and reducing costs. Last week Nasdaq submitted a suggestion to US Securities and Exchange Commission (SEK) To tokenize shares on its exchange for trading on blockchain with trades awarded the same priority as the Legacy method.
