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Japan’s Financial Services Agency has allowed the Japan Exchange Group, operator of the Tokyo Stock Exchange, to use financial technologies like blockchain as its core trading infrastructure.
The country’s financial regulator will now begin approving Fintech adoption on a case-by-case basis, according to a review in Nikkei.
Previous regulation meant that JPX subsidiaries were limited to activities linked to exchange operations. The new and updated interpretation of the rule, however, allows the JPX to introduce technology that improves the operational efficiency of trading platforms.
It is notable that the JPX has already begun developing blockchain applications for stock exchange operations. The exchange operator announced a partnership with IBM Japan for blockchain applications and experiments as early as February 2016. Trials began the following month in March, wherein proof-of-concepts (PoC) tests ran for clearing, settlement and other exchange operations in an artificial sandbox environment with sample securities. The test environment used code from teh open source Hyperledger platform led by the Linux Foundation.
Big on Blockchain
The tests were enough to convince the operator
Read more ... source: CryptoCoinsNews
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