Deutsche Borse, the operator of the Frankfurt Stock Exchange has claimed that it intends to accelerate the development of blockchain-backed D-7 digital security registry. The firm added the policies for cryptocurrency trading options in its Horizon 2026 plan.
Another program is the creation of a new digital currency trading wing. Frankfurt Stock Exchange has added digital currencies to its list of priorities for the next few years.
Horizon 2026 Plan
The Horizon 2026 plan was published recently by Borse and deals with the expansion of leading positions in the digital currency sector for existing and new asset classes.
The firm noted that digital currencies have growth potential in the long-run based on the digitization of current asset classes. In this manner, the firm intends to increase the development of a blockchain-backed D7 digital security registry and create a digital currency trading platform.
This trading platform is going to offer services for institutional investors and work on tokenized assets such as trading, settlement, and custodial options for investment products such as securities, alternative assets, and digital currencies.
Entry of Traditional Institutes in Crypto Trading
Frankfurt exchange is not the first firm from the sector to foray into cryptocurrencies. Boerse Stuttgart is the second largest stock exchange that introduced cryptocurrency trading options for consumers in April 2022.
At the same time, London Stock Exchange Group will offer clearing services for dollar-denominated, cash-settled Bitcoin index futures, and option contracts in 2024 issued from the United States.
At the same time, Frankfurt Stock Exchange has also worked with digital currencies before. In 2021, the firm Deutsche Borse Xetra listed Litecoin ETP on ETC-Group based out of London. Litecoin trading volume for the current year is said to have doubled in comparison to last year based on statistics issued last month.
The project reached a new milestone recently after processing 180-millionth transaction. Litecoin Foundation noted that the platform completed 51 million in 2023 thus far.
Litecoin Faces Issues Despite New Milestones
Litecoin data has revealed that the platform is facing issues in some areas. The GitHub repository of the project has shown no new code commits during the last 5 months. On the other hand, the token faced a 45% decline in value since July going from $114 to $63 in terms of spot market prices.
On the other hand, the trading fee for Litecoin has fallen regardless of increasing trading volume. During 2021 Bull Run, Litecoin produced $186,000 in trading fee revenue.
However, during October same number has declined by 68% and remained at $6000 as per Token Terminal. The current circulatory supply of LTC is set at 73.5 million and has an aggregate market cap of $5.3 million.
In the context of bullish forces acting on the digital currency market, the price of the token has appreciated 2.2% during the last 30 days. Litecoin is currently ranked as the 15th largest coin by market cap as per Blockworks Research.
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