A group of asset managers have teamed up with fintech firm FNZ to launch blockchain-powered market infrastructure to track and record fund transactions.
The technology, named FNZ Chainlink, has been backed by Aberdeen Standard, Kames Capital, Legg Mason, Equity Trustees Fund Services and Merian Global Investors. A statement said FNZ Chainlink will use blockchain technology to "replace thousands of copies of transactions and holdings that plague the managed funds industry, with a single, secure, verifiable source of ‘the truth', universally accessible by all parties". This, they said, will reduce cost, complexity and risk in back-office operations that is "ultimately borne by retail investors". What impact will blockchain have on th...
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