Does Tora acquisition signal LSEG's crypto intentions?

February 24, 2022 02:16 AM AEDT | By Manu Shankar

Does Tora acquisition signal LSEG's crypto intentions? — Image source: Photo by RODNAE Productions from Pexels

Baby steps towards crypto adoption

The Boris Johnson government has been evasive about regulating cryptocurrencies within the country. But cryptocurrency penetration in the UK is among the highest in Europe.

LSEG hopes that the acquisition would also enhance its reputation as a global, multi-asset class financial infrastructure, catering to both capital markets and crypto investments into one ecosystem. This could be a significant development considering that UK has no specific legislation governing cryptocurrency. Whenever it gets implemented and if UK decides to start crypto trading, it could very well mean that its investors can trade in cryptos with ease.

Dean Berry, LSEG head of Trading & Banking Solutions, said that the acquisition is an important extension to the global trading business. The Tora partnership will give exposure to the asset managers and traders to crypto trading through the LSEG software.

Conclusion

As the UK government still crypto shy, this move could be a positive step towards smooth and regularised crypto trading.

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