The London Stock Exchange should take a lead and open the gate to tokens, argues ICONOMI COO Matej Tomazin…
Following the news earlier this week that the parent company of the New York Stock Exchange, Intercontinental Exchange, is planning to introduce a platform for traditional investors to trade Bitcoin, conversation has quickly moved to whether others will follow suit.
According to Matej Tomazin, the COO of digital asset management platform ICONOMI, the likes of the Nikkei or the London Stock Exchange simply have to also join the crypto trading space.
“Only a few brokers can access the London Stock Exchange – how many regular investors cannot reach it? This is the question”, he put to us.
Noting the crypto exchanges aren’t party to set opening and closing times, he argued that “companies whose shares are already traded on these [traditional] exchanges are now watching how tokens are so easily traded, 24/7, on different [crypto] exchanges. Obviously there is demand for asset-backed tokens – so that it’s shares that are tokenised. And we will see global names that may tokenise their shares so they could be traded anywhere in the world. The liquidity will be much bigger”.
He thinks the likes of the London Stock Exchange should make a move.
“I believe that if London Stock Exchange opens the gate to tokens, other companies will say, ‘Why shouldn’t we have shares that have the same kind of characteristics as crypto tokens? We could get settlement instantly, they could be traded anywhere in the world. In the UK you have fiat payments where you can, in a matter of hours, see that money in your account. This is the trend. So why wait a few days to get the money from selling shares?”
The London Stock Exchange has made no noises on embracing cryptocurrencies as of yet. But there’s a growing feeling that it may just be a matter of time…