Last year the Deutsche Börse Group completed the acquisition of the FundsDLT fund distribution platform originally founded by the Luxembourg Stock Exchange. Now Zürcher Kantonalbank and UBS Asset Management participated in a pilot of the blockchain-based solution.
The bank issued a subscription order for UBS fund units using the blockchain platform. Zürcher Kantonalbank was able to see the status of the transaction and its final execution using the platform.
“The use of blockchain should enable our customers to process transactions even more efficiently in the future,” said Peter Hubli, Head of Digital Asset Solutions at Zürcher Kantonalbank. “Blockchain technology can offer added value in the future.”
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