15.7 C
27 May 2022
Image default
Exchange & Wallet News

London Stock Exchange invests $ 20 million in blockchain startup Nivaura

The London Stock Exchange (LSEG) has invested some $ 20 million in Nivaura and thus has a stake in the blockchain startup. Nivaura develops blockchain technology to automate the issuance of various investment instruments.

The digital platform of Nivaura will largely automate the issuance of bonds, derivatives and shares, a process in which many intermediaries are still involved. Automating a lot of money and time can be saved by automating the process. The London Stock Exchange hopes to be able to use the technology itself.

Head of international developments at LSEG, Nikhil Rathi, said about the investment in Nivaura:

The investment strengthens our existing relationship with Nivaura and underlines our commitment to innovate to support our customers in accessing global investment pools.

The London stock exchange made the investment during a Nivaura investment round. Other participants included Aegon, Digital Currency Group and Santander InnoVentures.

More and more traditional institutions are beginning to explore blockchain technology. JP Morgan, the largest bank in the United States, launched its own cryptocurrency, for example. However, this will only be used internally to facilitate transactions between customers.

However, most traditional institutions are turning their backs on bitcoin (BTC), the largest and oldest cryptocurrency of the crypto market. Nonetheless, the fact that traditional institutions are starting to accept blockchain technology is causing a positive boost for blockchain adoption within the traditional financial sector.

Related posts

Ethereum short-term Price Analysis: 21 August


Siberia could be a gold mine for Bitcoin miners


XRP Price Prediction – XRP Declines Below the $0.2600 Level But 20% Drop Might be Enough to Propel a Bullish Surge – August 28th, 2020