Blockchain Trading Sees Securities Exchange Trial in Myanmar

A major securities brokerage in Japan is reportedly testing a blockchain-based stock trading system in Myanmar.

AccessTimeIconNov 1, 2016 at 6:19 p.m. UTC
Updated Sep 11, 2021 at 12:35 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A major securities brokerage in Japan is reportedly testing a blockchain-based stock trading system in Myanmar.

According to Nikkei, Daiwa Securities Group’s research outfit has been in Myanmar working with the Yangon Stock Exchange. The goal, the Asian regional newspaper reported, was to test mechanisms by which problems with critical trading infrastructure could be avoided or resolved more efficiently.

Testing is said to have begun in March, involving five local firms along with the Yangon-based exchange. Daiwa, according to local sources, has an ownership stake in the exchange.

The publication further detailed:

“On the assumption of using blockchain to connect the Yangon Stock Exchange and local brokerages, the test was conducted to gauge how the system would work in the country, which is often hit by power outages and phone lines going dead.”

The trials don’t represent the first time the technology has been tested within Myanmar. Earlier this year, a microfinance firm began testing blockchain to streamline how its internal systems operate

One notable characteristic of the trial, according to Nikkei, is that the Yangon Stock Exchange “only matches buy and sell orders twice a day”. As a result, Daiwa said that it doesn’t expect to run into any major obstacles as it looks to integrate the system into live trading.

Daiwa is Japan’s second largest securities brokerage. The country’s largest, Nomura, has also been pursuing exchange-related applications of its own through its research arm.

Image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.