Blockchain
British Pension Giant L&G Is Looking To Enter The Crypto Tokenization Space
Credit : cryptonews.net
London-based L&G, which has belongings value $1.5 trillion, is trying to be part of different main conventional gamers reminiscent of BlackRock, Franklin Templeton and Abrdn in providing blockchain-based cash market funds. Tokenization, or representing standard belongings reminiscent of U.S. Treasury-backed cash market funds by tokens on the blockchain, has change into common amongst conventional monetary companies.
The corporate is exploring methods to make Authorized & Common Funding Administration liquidity funds out there in a tokenized format, mentioned Ed WICKS, international head of buying and selling at Authorized & Common Funding Administration (LGIM). Digitizing the fund trade is vital to bettering effectivity, decreasing prices and offering a wider vary of funding options to a wider vary of buyers, Wicks mentioned.
L&G’s curiosity in blockchain know-how started in 2019, when the corporate mentioned it deliberate to make use of the Amazon Net Providers (AWS) managed blockchain system to handle and file bulk annuities for its insurance coverage enterprise.
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