BNP Paribas AM Completes Blockchain Test

It is stated that Fund Link programme is able to connect with other blockchains
10 January 2018   705

BNP Paribas Asset Management announced on January 10 that the company has successfully completed a full end-to-end fund transaction test late last year, using blockchain technology.

The test has been conducted leveraging on BNP Paribas Securities Services’ blockchain programme, Fund Link, and FundsDLT, a blockchain based decentralized platform for fund transaction processing, which has been developed through collaboration between Fundsquare, InTech and KPMG Luxembourg.

We have a unique opportunity to continue shaping the future of the asset management industry using digital technology, and transform the fund distribution process. While investors will benefit from reduced transaction time, we will also profit from a sleeker, more streamlined system underpinned by technology and relevant for all fund types and geographies.

 

Fabrice Silberzan

Chief Operating Officer, BNP Paribas Asset Management

It is stated that the test demonstrated that Fund Link is able to connect with other blockchains, opening the door to a new model of interoperability and marks a key milestone for fund distribution. The transaction included each part of the fund trade process, from delivery of the order to the processing of the trade.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   121

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.