The “blockchain” or chains of blocks, known for being the technology on which cryptocurrencies such as bitcoin are based, is a digital accounting record where transactions are recorded and verified.
The news comes at a time when several financial institutions are talking about the potential of the blockchain to streamline the process of issuing and intermediation of financial assets.
“LSEG is exploring plans to build an end-to-end digital marketplace ecosystem that will enable more seamless and cost-effective raising and transfer of capital across all asset classes,” the company told Reuters in an email.
LSEG is not building anything around crypto assets, but is trying to use the technology that underpins them to improve the efficiency of buying, selling and holding traditional assets, Roos had previously told the FT.
“The idea is to use digital technology to make the process simpler, smoother, cheaper and more transparent (…) and to be regulated.”
LSEG is considering the possibility of using a separate legal entity for the digital markets business, according to the information on Monday, adding that it hoped to have it up and running within the next year, subject to regulatory approvals.
The company is already in talks with regulators, in multiple jurisdictions, as well as with the UK government and Treasury, the article added.
Thomson Reuters, parent of Reuters News, has a minority stake in LSEG, which pays Reuters for the news.