German Blockchain-as-a-Service (Baas) provider Advanced Blockchain AG has become the first blockchain development firm to be listed on Germany’s Xetra digital stock exchange, operated by Deutsche Börse. The news was reported by financial news site DGap on July 1.
The
Xetra all-electronic trading system was founded in 1997 for use on the
Frankfurt Stock Exchange, but has since expanded to over 200 trading
participants from across16 European countries, as well as Hong Kong and
the United Arab Emirates.
According to recent data,
Xetra accounted for €131.4 billion ($149 billion) of Deutsche Börse’s
total cash markets €146.0 billion ($165 billion) turnover in May 2019,
with an average daily Xetra trading volume of €6 billion ($6.79
billion).
According to the report, German financial
services holding firm Lang & Schwarz has facilitated Advanced
Blockchain AG’s Xetra listing as designated sponsor and market maker.
The development follows the firm’s earlier listing
on the Frankfurt Stock Exchange in January of this year, as well as its
prior listing on the primary market of the Düsseldorf stock exchange.
In parallel to the Xetra news, Advanced Blockchain AG has also signed a Letter of Intent with an as yet undisclosed German telecoms provider to jointly develop a blockchain-based protocol for billing in internet of things (IoT) networks, according to a DGap report published on July 1.
While
details of the partnership remain to be finalized and made binding in
Q3 2019, DGap reports that their future collaboration will involve the peaq project
and Advanced Blockchain AG’s proprietary protocol DAGchain, which uses
an AI-powered decentralized consensus algorithm and incorporates
proof-of-stake (PoS) elements.
The finalization will reportedly
determine both financial aspects of the partnership as well as the
extent of Advanced Blockchain AG’s participation in future transactions
on the network.
As previously reported, Deutsche Börse has itself made multiple inroads into the blockchain space, this spring entering into a strategic partnership with Swiss state-owned telecoms firm Swisscom, and Swiss and Singapore-based fintech Sygnum to build out a compliant financial market infrastructure for digital assets.
In April, telecoms giant NTT Corporation’s Thai subsidiary revealed plans to launch a major innovation lab focused on blockchain, artificial intelligence and IoT technology.
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