Germany’s Xetra digital stock exchange has listed the first blockchain firm on its platform. Ran by Deutsche Börse, the exchange has listed Advanced Blockchain AG, a German Blockchain-as-a-Service provider. A report unveiled this news on July 1.
According to the publication, the Xetra all-electronic trading system went live in 1997 for use on the Frankfurt Stock Exchange. Since then, the platform has expanded to more than 200 trading participants. These participants are spread across 16 European countries, Hong Kong and the UAE. Advance Blockchain AG will be the first blockchain firm whose shares will be tradeable on Xetra.
Reportedly, Lang & Schwarz, a German financial services holding firm, enabled Advance Blockchain AG’s listing on the exchange. The firm is the designated sponsor and will act as a market maker on Xetra. This news comes after the Frankfurt stock exchange listed Advance Blockchain AG on its platform in January this year. Prior to the listing by the Frankfurt stock exchange, the Dusseldorf stock exchange listed the firm on its primary market.
Advanced Blockchain AG Aims to Branch Out into the Telecoms Sector
Another report notes that Advanced Blockchain AG has signed a letter of intent (LOI) with a German telecommunications firm. This non-binding agreement aims to develop a blockchain-based protocol for billing in IoT networks. The two firms are yet to finalize the details of this partnership. However, the publication states that they might make the agreement binding in Q3 this year.
Reportedly, this joint effort will involve working on the peaq project in the future. On top of this, the firms would work on Advanced Blockchain AG’s DAGchain protocol. This protocol uses an AI-based consensus algorithm and integrates some PoS elements.
Once this deal is completed, it will stipulate the financial aspects of this collaboration. Also, it would determine the scope of Advanced Blockchain AG’s participation in subsequent transactions on the network.
While Deutsche Börse is a traditional firm, it is not shying away from integrating the blockchain in its operations. Its association with Advanced Blockchain AG is not the company’s first move into the nascent sector. Per a previous report, the firm made a strategic partnership with Swisscom and Sygnum to create a compliant financial market infrastructure for crypto coins.
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