Ethereum-based Stock Exchange to List First Company in June

The SprinkleXchange, widely regarded as the first stock exchange to launch on the Ethereum blockchain, is set to list its first company in June 2019.

In an interview published by Bloomberg on Friday,  Alexander Wallin, the startup’s CEO said with much delight that it is a luxury for his firm to be the first to launch in an industry that will eventually become crowded soon.

Per the listing, Alexander further told Bloomberg that companies who wish to get listed on SprinkleXchange would only have to pay the same fee as they would for Swedish traditional stock exchange, even though the listed firms will enjoy more global access and better liquidity.

Alexander and SprinkleXchange hope to achieve this by adopting a decentralized clearing platform and settlement system that works automatically.

For the time being, though, SprinkleXchange is operating within the Bahrain regulatory sandbox provided by the country’s Central Bank for blockchain startups.

Its prospective clients include companies whose trading capital ranges from  $20-$200 million while the startup has sights set on listing about 35 companies by June 2020 and in the next few years as much as 1000 companies.

Along with listings, Sprinklexchange also plans to offer trading in cryptocurrency, listed stocks and in the future to add exchange-traded funds.

Stock Exchanges Adopting Cryptocurrencies and Blockchain Technology

At this time, many more traditional stock exchanges are incorporating cryptocurrencies and blockchain technologies on their platforms.

Coinfomania has reported several of such efforts with including in the previous month that London Stock Exchange helped a blockchain startup raise £3 Million from tokenized Shares.

Across the continent, we also reported that the Jamaica Stock Exchange is piloting the trade of popular cryptocurrencies on its platform while in Thailand, the national stock exchange is looking to a apply for a license to operate a digital currency trading platform later this year.

Comments (No)

Leave a Reply