"We are evaluating ways to make the Legal & General Investment Management Liquidity funds available in tokenized format," said Ed Wicks, global head of trading at Legal & General Investment Management (LGIM), when asked about the firm's plans via email.
"Digitization of the funds industry is key to improving efficiency, reducing cost and making a broad range of investment solutions available to a wider range of investors. We look forward to continued progress in this space," Wicks said.
Tokenization - or the representation of conventional assets like U.S. Treasuries-backed money-market funds via tokens on a blockchain - has become popular among traditional finance firms.
L&G's dalliance with blockchain technology stretches back to 2019, when the insurer said it planned to use the managed blockchain system from Amazon Web Services (AWS) to manage and record bulk annuities for its insurance business.
Collection
[
|
...
]