The London Stock Exchange (OTCPK:LDNXF) (OTCPK:LNSTY) has rolled out a new blockchain-based platform for private funds and facilitated the first trade, it said on Monday.
Powered by Microsoft’s (MSFT) cloud computing platform Azure, the new Digital Markets Infrastructure (“DMI”) platform was built to apply blockchain technology across every stage of an asset’s journey — from issuance to post-trade settlement — while offering greater efficiency and scalability across asset classes.
DMI’s first users include MembersCap and Archax. The inaugural transaction carried out through MembersCap in its role as general partner of MCM Fund 1, completing a primary fundraise with Archax acting as nominee on behalf of a Web3 foundation.
EJF Capital has also joined as an early user, with several of its funds set to be listed on DMI in the near future.
“The onboarding of our first clients and this first transaction are significant milestones, demonstrating the appetite for an end-to-end, interoperable, regulated financial markets DLT infrastructure,” Darko Hajdukovic, head of Digital Markets Infrastructure at LSEG, said in a statement.