The London Stock Exchange Group (LSEG) just made a big move into the world of blockchain technology. They’ve launched a new system for private funds, and it’s already handled its first fundraising!
A New Platform for Private Funds
This new system, called “Digital Markets Infrastructure” (DMI), was built with Microsoft and uses Microsoft’s Azure cloud. It’s all about using blockchain – the same tech behind cryptocurrencies like Bitcoin – but for traditional finance. Instead of just digitizing part of the process, DMI handles everything from creating the digital tokens to settling the transactions.
First Transaction a Success!
MembersCap, an investment firm, was the first to use DMI to raise money for its MCM Fund 1. Archax, a UK-regulated digital securities exchange, helped with the process. EJF Capital, another investment firm, is also on board and will be using the platform soon.
Dr. Darko Hajdukovic, Head of DMI, says this first transaction is a huge step forward. He believes LSEG’s platform can really change how private markets work by making things faster, easier, and more efficient. For now, DMI is only for private funds, but LSEG plans to expand to other types of assets.
Microsoft Partnership
Microsoft’s Bill Borden is excited about the partnership, saying they’re working together to change the future of finance.
(Note: The section about Bitcoin price fluctuations has been removed as it’s unrelated to the main topic of the LSEG’s blockchain initiative.)/p>
