Germany’s Xetra Digital Stock Exchange Lists First Blockchain Firm

Deutsche Börse-operated trading venue, Xetra, has listed its first blockchain company, the Blockchain-as-a-Service (BaaS) provider Advanced Blockchain AG, according to a blog post on the firm’s website.

As of Monday, shares of Advanced Blockchain AG will be available for trade on the Xetra platform. The listing follows after the firm’s previous listing on the Frankfurt Stock Exchange in late January of 2019, and even earlier listing on the primary market of the Düsseldorf stock exchange.

Xetra is an all electronic trading system, which was founded in 1997 primarily for use on the Frankfurt Stock Exchange, but since then has expanded across 16 European countries, as well as the United Arab Emirates and Hong Kong, with over 200 trading participants. It accounted for close to 90% of Deutsche Börse’s total cash market’s turnover in May 2019, with Xetra’s average daily trading volume being around $6.7 billion. According to the blog post, German financial services holding firm Lang & Schwarz has been designated as a sponsor and market maker for Advanced Blockchain AG on Xetra.

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Advanced Blockchain AG is a Berlin-based firm that develops Distributed Ledger Technology (DLT) software for businesses. The firm has already built a project, called “peaq”, which aims to provide a blockchain-based layer for enterprises, and is currently developing a Directed Acylic Graph (DAG) blockchain, called “DAGchain”, which when completed will be used in a number of projects in industries such as finance, engineering, and IoT (Internet of Things).

Advanced Blockchain AG has also made one more announcement today. It has signed a Letter of Intent with a German telecom provider, which has remained undisclosed, to develop a blockchain-based protocol for billing in IoT networks. According to the blog post, the partnership is yet to be finalized, but the future collaboration will involve the “peaq” project, and the DAGchain.

In late May of 2019, Forbes made a list that showcased 10 companies working to make blockchain more accessible, prominent and mainstream. Advanced Blockchain AG was able to take the second spot on the so called list of “10 Blockchain Companies to Watch in 2019”.

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John

That is awesome news!

Evan
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Evan

Yes it is.