- 8th largest stock exchange in the world launches index of 50 blockchain companies
The Shenzhen Stock Exchange (SSE) is the 4th largest stock exchange in Asia and the 8th largest in the world with a market capitalization of USD 3.12 trillion, and also one of only two stock exchanges operating independently in China. The SSE has announced that they are launching an index of 50 blockchain companies.
The SSE blockchain index will be updated twice a year, and only the 50 highest-ranking blockchain companies according to average daily market value over the last six months will be included in the index.
The SSE did their due diligence and made sure that every company listed in this new index is actually using blockchain technology rather than just capitalizing on the blockchain hype in China. For example, in March 2018 the SSE suspended the trading of Lifesense in order to investigate if the company’s claims of running a blockchain laboratory were true.
This is not the first time a major stock exchange has launched a blockchain company index. The NASDAQ stock exchange launched the Defix index in September, which includes companies that focus on blockchain and decentralized technology, and in October NASDAQ launched the CIX100 index which was created by the crypto oriented company Cryptoindex.
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