As a result of the acquisition, LSEG may be able to offer crypto or non-fungible token (NFT) trading in the future.
The London Stock Exchange Group (LSEG) has paid $325 million for TORA, a provider of technology for trading a variety of asset classes, including cryptocurrency.
The acquisition would expand LSEG’s trading capabilities to include digital assets, the company announced on Tuesday.
LSEG will be able to offer crypto or non-fungible token (NFT) trading in the future as a result of the agreement. NFTs are blockchain-based digital assets that reflect ownership of virtual or physical goods.
At the time of publication, LSEG had not responded to a request for comment.
Subject to regulatory approval, the deal is likely to close in the second part of this year.
LSEG is a provider of worldwide financial markets data and infrastructure as the parent company of the London Stock Exchange.
For the trading of equities, fixed income and derivatives, as well as digital assets, TORA provides solutions for order and execution management as well as portfolio management.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.