Swedish blockchain exchange

The Swedish financial technology company is building a new stock exchange with blockchains. New York The Swedish country company Sprinkle Group, which previously collaborated with Swedbank, launched a stock exchange based on blockchain technology.

“We could reach 1000 companies in three or four years,” said founder Alexander Wallin.

Unlike traditional exchanges, the Sprinkle Xchange will not be connected to any physical location. Instead, they use blockchain technology, which means that the entire compensation process is raised to a higher cross-border level.

“Since everything is simplified, we can probably create 1,000 companies in the list of three or four years,” said Sprinkle Group founder and CEO Alexander Wallin of New York City.

The company has first and foremost been known to the Swedish public through its social application for sharing Sprinklebit, which previously had a partnership with Swedbank. The purpose of the new stock market is partly to expand the market for investors: To provide access to companies around the world that would otherwise have been difficult to reach. Firstly, Wallin aims to make it easier and cheaper for companies that want a stock market to reach a wider audience. Therefore, Sprinkle Xchange uses the so-called “Dutch auction” to determine the price before a list, rather than companies having to mix with the investment banks.

“There we cut the most expensive part of what usually costs to publish. Since everything is automated, it is not necessary to charge the high commissions,” says Wallin.

Another unique feature of Sprinkle Xchange is the ability to trade with both listed companies and cryptographic currency Initially, it will only be possible to pay only with cryptographic currency, but in the long term also with other currency, since the technology is so new, there have been no laws that regulate this type of trade. ”Sprinkle Group has worked with the central bank in Bahrain, which is now implementing the rules Recently, the company was the first to receive this special type of stock market license in the Kingdom, with the condition that only ten companies can quote in the first year, as a trial period. sector for gambling and electronic sports. “We also look at the companies that want copy list, which is already listed in, for example, First North in Sweden, but who want to become more global and reach a larger investor base, “says Wallin. However, there is no talk about Wall Street for business, as seen in connection with listing on the New York Stock Exchange. What does this mean for the Sprinkle Group?

“It is as if the circle is closed, the goal of the company has been to teach people around the world to invest and give them the right tools to do so, and here we are now you are waiting to be bought from new?” We shall see “I don’t like the courses very much, I hope to continue the exciting trips that await the companies that publish with us.”

The Sprinkle Group started in 2011 with the Sprinklebit Social Investment Platform. In addition to Sprinkle Xchange, it has also launched a feature to market US shares. The company currently has 46 employees, but does not want to indicate its turnover or the number of users.