Bloomberg: Blockchain-Powered IPO Platform to List First Company in June

May 20, 2019
58 Views

The CEO of the blockchain bourse, Alexander Wallin, hopes SprinkleXchange will list as many as 1,000 companies in the next four years.

SprinkleXchange, a blockchain-powered initial public offering platform, is preparing to list its first company in June, Bloomberg reported on May 17.

According to Alexander Wallin, the bourse’s CEO, it is hoped that up to 1,000 companies will join over the next three to four years.

The Ethereum blockchain is used for settlement and clearing, and its users will be able to trade listed companies and cryptocurrencies 24 hours a day. Switzerland’s SIX stock exchange is also planning to launch a blockchain-powered digital exchange, which will be powered by blockchain consortium R3’s Corda Enterprise platform.

According to Bloomberg, SprinkleXchange claims its blockchain-focused approach offers time and cost savings when compared with traditional stock exchanges as key systems are automated. Wallin told Bloomberg:

“We have the luxury of being first with this, but we’re aware that it will become a crowded market. It’s like moving from VHS to streaming; Netflix did it nicely and was first, but now there are lots of streaming sites.”

Companies with a market cap of between $20 million and $200 million are being encouraged by SprinkleXchange to consider a listing, and Wallin claims firms from a broad range of sectors have expressed an interest so far, including the real estate and biotech industries.

SprinkleXchange is operating as part of Bahrain’s regulatory sandbox, and for now, it has permission to list a maximum of 10 companies.

In March, Cointelegraph reported that Bahrain had invited Indian companies to join its fintech sandbox with the aim of facilitating the development of blockchain tech in the region.

In February, the Shariah-compliant crypto exchange Rain became the first to complete Bahrain’s regulatory sandbox.

You may be interested

World’s Biggest Bitcoin Cash Conference Kicks Off in Australia – What to Expect
Bitcoin
4 views
Bitcoin
4 views

World’s Biggest Bitcoin Cash Conference Kicks Off in Australia – What to Expect

btcethereumadmin - September 4, 2019

Arguably set to become the world’s biggest Bitcoin Cash conference yet, Bitcoin Cash City kicked off today in sunny Townsville,…

New Storm Concept Could Strengthen Bitcoin Cash Instant Transactions
Crypto News
7 views
Crypto News
7 views

New Storm Concept Could Strengthen Bitcoin Cash Instant Transactions

btcethereumadmin - September 4, 2019

Software developer Awemany has published a potential alternative approach to instant transactions on the Bitcoin Cash (BCH) network called “delta…

Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin
Bitcoin
4 views
Bitcoin
4 views

Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin

btcethereumadmin - September 4, 2019

Cryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The…

Leave a Comment

Your email address will not be published.