London Stock Exchange Group To Buy Crypto Trading Platform TORA For $325M

The Hong Kong Stock Exchange has made a blockbuster bid for the London Stock Exchange Group equivalent to $40 billion

London Stock Exchange's parent group said that they would buy TORA, maker of crypto trading platform Caspian, for $325 million in a bid to foray into Web 3.

Caspian aggregates pricing, bid/ask information, orders, positions, accounts, and executions from numerous crypto exchanges and other sources, presenting the information on a single platform.

It allows users to send order information to specific crypto exchanges or numerous exchanges at once. Order execution, portfolio management, compliance, risk management, and reporting features are all included in the program.

The London Stock Exchange Group announced Tuesday that the acquisition will add digital assets to the London Stock Exchange Group's trading capabilities. The deal is expected to close in the second half of the year.

TORA completed a Caspian (CSP) token sale in October last year, raising $19.5 million. Ethereum-based CSP may be used to gain discounts on the Caspian platform by staking it.

London Stock Exchange Group is not the only player dabbling in Web3 via acquisitions and investments. The parent firm of the New York Stock Exchange, the Intercontinental Exchange (ICE), announced on Tuesday that they would be making a strategic investment in the blockchain-based trading platform tZero.