U.S. asset manager and administrator SEI plans to participate in the UK’s Digital Securities Sandbox (DSS) alongside Ctrl Alt, which has applied to be a direct participant. SEI will provide the assets to be tokenized within the sandbox, which is a joint initiative from the Bank of England and the Financial Conduct Authority (FCA). The DSS will explore the potential to relax certain regulatory requirements for DLT-based financial market infrastructures.
While SEI might not be a household name, it has $1.6 trillion in assets under management and administration and has a market capitalization of almost $9 billion. It is the world’s largest private credit fund administrator by assets. That’s a sector that is viewed as ripe for tokenization.
“Tokenized solutions have the potential to enhance security, transparency, and efficiency to drive significant improvements across financial services,” said Sneha Shah, Head of New Business Ventures at SEI. “Building upon our roots in innovation and leveraging our ability to connect the industry in ways that others cannot, we’re committed to unlocking benefits across the entire asset lifecycle and value chain through this collaboration.”
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