A blockchain-powered initial public offering platform, SprinkleXchange preps to list its first company in June, as reported by Bloomberg on May 17.
Alexander Wallin, CEO of Bourse, hopes that over 1,000 companies will join the platform over the next three to four years. Ethereum blockchain will be employed for settlement and clearing, further, the users will be able to trade listed companies and cryptocurrencies 24 hours a day.
As per Bloomberg, SprinkleXchange claims that its blockchain-focused approach will offer savings in terms of time and cost in comparison to traditional stock exchanges as key systems are automated. Wallin told Bloomberg:
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