Germany’s Xetra Digital Stock Exchange Lists First Blockchain Firm
- Xetra has accounted for over 90% of share trading across German exchanges, and around 30 percent of trading in ETFs in Europe.
- Advanced Blockchain AG has also signed a Letter of Intent with a German telecom provider to develop a blockchain-based protocol for billing in IoT networks.
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.
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”.
- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
Shutterstock
- The current chaotic payroll system, marked by inefficiency and delays, stands to be completely overhauled through the use of blockchain technology.
- While blockchain might not take over all computing as some claim, it definitely has clear benefits in certain scenarios, and payroll management is one of them.
- Sui Network was developed by Mysten Labs, which was founded by ex-Meta employees, using the Rust-based Move programming language.
- Unlike other blockchains that use proof-of-work and proof-of-stake consensus mechanisms, Sui relies on delegated proof-of-stake that allows users to elect and vote for delegates.