Asset manager AllianceBernstein (AB) announced it is integrating blockchain technology across its EU domiciled-global platform through a partnership with Allfunds Blockchain. Alliance Bernstein had $735 billion in assets under management at the end of March. Its sister company is Equitable Life and Equitable Holdings owns almost two-thirds of the firm. Meanwhile, Allfunds Blockchain is part of the listed Allfunds (Market cap €4.5bn/$4.7bn) fund distribution company.
“Across multiple departments at AB and in partnership with Equitable Holdings, we underwent a deep exploration of the value that the blockchain technology unlocks,” said Ronit Walny, Head of AllianceBernstein’s Investment Innovation Center.
She continued, “We anticipate that this technology will be transformative to the asset management industry, uncovering significant transactional efficiencies and enhanced transparency as well as operational agility that makes investment solutions available to a broader investor base.”
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