SprinkleXchange, the Exchange platform which uses the Ethereum platform for Settlement and Clearing, is all set for listing its first company in June.
Alexander Wallin, who is the CEO of Sprinkle Group said that SprinkleXchange blockchain exchange is one the end of getting its first public listing. Moreover, the firm aims to become home of around a thousand organizations in the next 3 to 4 years.
Alexander Wallin in the recent interview with Bloomberg said,
“We have the luxury of being first with this, but we’re aware that it will become a crowded market. It’s like moving from VHS to streaming; Netflix did it nicely and was first, but now there are lots of streaming sites.”
SprinkleXchange, operating with the regulatory sandbox formed by the nation's central bank utilizes a decentralized clearing and settlement system which takes help of automation to decrease time and cost. Prices will be finalized using the Dutch Auction Method, with SpinkleXchange.
Wallin said, “The cost is about the same as when you list on a Swedish stock exchange, but you get global access and we can show that you also get better liquidity.”
SprinkleXchange is based out in Bahrain and has received an endorsement to work under its national bank's suggested sandbox. The firm's objective is to attract firms with a market capitalization of $20-$200 million. The exchange hopes to list about 35 firms before 2020 end and around 1,000 in the next few years. Apart from limited stocks, the firm allows trading in Crypto and hopes to add exchange-traded funds in the near future.
With the underlying top of 10 listings, the exchange might start adding more firms after October, as soon as the Central Bank of Bahrain provides full authorization.
The CEO believes that the decentralized exchanges in traditional settlements and cryptocurrencies are meant to attract financial specialists, investors, specialists and issuers.
At the time of commenting on this platform, Joakim Bornold, who is a financial adviser at Soderberg & Partners, regarded SprinkleXchange as a magnificent idea which has made its way for the appropriate investors.
Bornold said that even though are working towards removing clearing and settlement expenses will help to expand the market, the big firms are on the same track.