The Xetra all-electronic trading system was founded in 1997 for use on the Frankfurt Stock Exchange, but has since expanded to over 200 trading participants from across16 European countries, as well as Hong Kong and the United Arab Emirates.
German Blockchain-as-a-Service (Baas) provider Advanced Blockchain AG has become the first blockchain development firm to be listed on Germany’s Xetra digital stock exchange, operated by Deutsche Börse. The news was reported by financial news site DGap on July 1.
According to recent data, Xetra accounted for €131.4 billion ($149 billion) of Deutsche Börse’s total cash markets €146.0 billion ($165 billion) turnover in May 2019, with an average daily Xetra trading volume of €6 billion ($6.79 billion).
According to the report, German financial services holding firm Lang & Schwarz has facilitated Advanced Blockchain AG’s Xetra listing as designated sponsor and market maker. The development follows the firm’s earlier listing on the Frankfurt Stock Exchange in January of this year, as well as its prior listing on the primary market of the Düsseldorf stock exchange.
In parallel to the Xetra news, Advanced Blockchain AG has also signed a Letter of Intent with an as yet undisclosed German telecoms provider to jointly develop a blockchain-based protocol for billing in internet of things (IoT) networks, according to a DGap report published on July 1.
While details of the partnership remain to be finalized and made binding in Q3 2019, DGap reports that their future collaboration will involve the peaq project and Advanced Blockchain AG’s proprietary protocol DAGchain, which uses an AI-powered decentralized consensus algorithm and incorporates proof-of-stake (PoS) elements.
The finalization will reportedly determine both financial aspects of the partnership as well as the extent of Advanced Blockchain AG’s participation in future transactions on the network.
As previously reported, Deutsche Börse has itself made multiple inroads into the blockchain space, this spring entering into a strategic partnership with Swiss state-owned telecoms firm Swisscom, and Swiss and Singapore-based fintech Sygnum to build out a compliant financial market infrastructure for digital assets.
In April, telecoms giant NTT Corporation’s Thai subsidiary revealed plans to launch a major innovation lab focused on blockchain, artificial intelligence and IoT technology.