Deutsche Borse’s Xetra Exchange Lists First Crypto-Oriented Company, Advanced Blockchain AG

Deutsche Borse’s Xetra Exchange Lists First Crypto-Oriented Company, Advanced Blockchain AG

Leading financial asset firm for stocks, bonds and funds, a Deutsche Borse trading platform Xetra, on July 1st listed its first ever blockchain company.

German media outlet reported on Monday that the shares in the firm, Advanced Blockchain AG, will be readily available for trade on Xetra starting from today.

Drive Towards Blockchain

The listing of the blockchain company is a sequel to the company’s launch on the Frankfurt Stock Exchange earlier in January.

The blockchain industry is gradually gaining momentum throughout the world, and nobody wants to be left behind, especially not European firms. German-based Advanced Blockchain specializes in developing distributed ledger (DLT) software for businesses, according to DGAP.

Along with its associate company Nakamoto GmbH, the company has developed a revolutionary project called Peaq, which is specially designed to provide a blockchain base layer for interested companies and establishments.

The company is also developing a directed acyclic graph (DAG)-based blockchain called DAG, which after its completion will be used for a number of projects in industries such as the Information and Technology, Automobile, financial and not forgetting the engineering industry.

Blockchain in Europe

European nations are gradually tilting entirely towards the blockchain technology, with its transparency and versatility is one of the many reasons why most firms on the continent are now aligning themselves with the crypto invention.

Germany, being one of the leading nations on the continent won’t be contented to sit at the edge and as such, supported start-up and established blockchain firms. In May Advanced Blockchain made Forbes List of “10 Blockchain Companies to Watch in 2019,’” and was placed at number 2.

Meanwhile, the German authorities are looking into the activities of exchanges and cryptocurrency platforms, in a bid to regulate their operations and conform them to internationally acceptable standards.

Bitcoin Exchange in December reported that the German BaFin regulator issued a stern warning to crypto exchanges, especially on their ICO, and warns that the country will not accept any form of operations that is not in conformity with the international standards.

Under the new proposed regulation, initial coin offerings and other similar offerings will start to fall directly under the supervision of the government-thereby subjecting cryptocurrency products to the same international standards as other conventional fiat offerings.

Although, analysts are of the opinion that since the fiat offerings differ completely to the ICO’s, it might be pretty difficult to shield both of them under the same rules and regulations.

The regulatory agency however maintained that law and order must be maintained in the cryptocurrency market so that the industry will not become an avenue for financial criminals who specializes in money laundering and other financial crimes.

German authorities are bent on regulating the crypto sector due to the prevalent criminal activities in the industry. The government believes that, by regulating the industry, it will be safer for the citizens to invest and harder for criminals to penetrate, as all the former loopholes would have been patched.

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Author: Ogwu Emma

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