KRX building blockchain trading platform

FinTech | March 1, 2016 By:

The Korea Exchange (KRX) is developing a blockchain platform to link sellers and buyers to trade securities directly.

“Though many steps remain before the system’s official launch, we expect this would help off-board dealers to trade more easily by saving their costs and efforts in seeking trade partners,” an unnamed KRX official said.

It is estimated that the current value of the OTC market in South Korea stands at 56 trillion KRW (Korean Won). KRX is the latest securities clearing company to join the rapidly growing list of financial giants looking to modernize the financial derivatives industry using blockchain technology.

The Korea Exchange (KRX) is South Korea’s lone securities exchange.