- The London Stock Exchange (LSE) is planning to develop a blockchain-based trading platform.
- Lido Finance’s Ethereum staking has reached over 32% of the entire Ethereum network.
- OKX, a major cryptocurrency exchange, is in the final stages of obtaining a cryptocurrency license in Hong Kong.
This article summarizes the significant cryptocurrency news, including the London Stock Exchange’s blockchain platform development, Lido Finance’s Ethereum staking, and OKX’s progress in obtaining a Hong Kong cryptocurrency license.
Blockchain Trading Platform by London Stock Exchange
The London Stock Exchange (LSE) is reportedly planning to develop a blockchain-based trading platform. This initiative is not related to cryptocurrencies but is aimed at creating a platform for traditional financial asset trading. The LSE has been contemplating this development over the past year and has now decided to put the plan into action. The reason for using blockchain technology, according to LSE’s Capital Markets Chief Murray Roos, is to create a smoother, cheaper, and more transparent process for traditional assets using digital technology.
Ethereum Staking by Lido Finance
Lido Finance, the leading liquid staking protocol, has reached approximately 33% of the entire Ethereum network with its Ethereum staking. This has raised concerns among some Ethereum community members about the risk of Lido’s market dominance and concentrated use undermining Ethereum’s decentralized nature. Lido whitelists the verification nodes delegated by users, which is not a free entry. There are also concerns about the risk of Ethereum gaining a reputation for not being as decentralized as other chains due to the concentration of node management.
OKX’s Progress in Hong Kong Cryptocurrency License
OKX, a major cryptocurrency exchange, is in the final stages of obtaining a cryptocurrency license in Hong Kong. The company expects to acquire the license around March 2024. OKX’s CCO, Li Zhikai, explained in a media interview that the company is discussing collaboration with banks and will open in Hong Kong once the formal license is granted. Other companies, such as HashKey and OSK, have already obtained full licenses and started services for individual investors. OKX is also planning to expand into the Indian market, with plans to hire developers in India for the application field of Web3 wallets.
Conclusion
The cryptocurrency sector continues to evolve with major developments such as the London Stock Exchange’s blockchain trading platform, Lido Finance’s Ethereum staking, and OKX’s progress in obtaining a Hong Kong cryptocurrency license. These developments reflect the growing integration of blockchain technology in traditional finance, the increasing popularity of Ethereum staking, and the expansion of cryptocurrency exchanges into new markets.
