Major UK asset manager Abrdn has launched its first blockchain-based investment by tokenizing part of its £15 billion Lux Sterling money market fund. The token was issued on the Hedera Hashgraph DLT, where Abrdn is on the governing council. It used the Archax Tokenisation Engine to mint the token.
“We made the investment into Archax because we see the future for financial markets lies with leveraging new technologies, such as Web 3.0 and DLT,” said Russell Barlow, Global Head of Alternatives at abrdn. “It is exciting to see a tangible application of Archax’s tokenisation engine working with Hedera and it paves the way for us to look at creating other digital, blockchain-based token investment solutions.”
Archax has three arms, a regulated exchange or multilateral trading facility (MTF), its Tokenisation Engine for Issuance, and a custody subsidiary based on technology from Metaco.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
