Funds Management MC
World’s first blockchain marketplace set to launch
InvestorDaily
An entire firm fund transaction network will be migrated to blockchain in what is being described as the world’s first blockchain funds marketplace. Calastone, a global fund transacting network has announced that its network of over 1,700 financial organisations will be migrated to blockchain in May 2019. The migration to the company’s new Distributed Market Infrastructure is expected to reduce the cost and risk in the way which units in managed funds are brought, sold and reported.
Calastone’s chief innovation officer Campbell Brierley said the infrastructure would create a frictionless ecosystem which would eliminate risks. “By making friction-free trading accessible to all parties in the value chain, we are creating an environment that marks an inflection point for the future of the funds sector, optimised to meet the needs of customers and investors now and in the long-term,” he said. Mr Brierley said the service would allow organisations to innovate, stay competitive and offer new investment opportunities to the modern investor.
The rest of this article can be found at investordaily.com.au.
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