The first stock exchange that is based on Ethereum will list its first company next month.

According to Alexander Wallin, CEO of Sprinkle Group, SprinkleXchange will be the first to offer this type of service which he believes will be a crowded market in the future.

The platform is operating within a regulatory sandbox created by the Bahrain’s central bank and uses decentralized clearing and settlement system that uses automation in order to reduce time and cost.

The company aims to attract companies with a market capitalization of $20-$200 million and expects to list around 35 companies over the next 12 months and over 1000 over the next few years.

Traditional stock exchanges is fast becoming one of the several industries that is looking into integrating distributed ledger technology or more commonly known as blockchain technology into their platform to increase security, transparency and efficiency.