Credit Suisse collaborates with other European financial institutions to launch a blockchain-based investment platform
Some of the financial institutions in Europe started a partnership to develop a new platform for the investment fund industry. The blockchain-based platform, known as FundsDLT, will use the distributed ledger technology (DLT) to provide decentralized solutions for the distribution of funds.
New blockchain-based platform for the investment industry
Clearstream, Credit Suisse Asset Management, the Luxembourg Stock Exchange and Natixis Investment Manager are the partners that will collaborate in the development of the FundsDLT platform. The Luxembourg Stock Exchange initially started with FundsDLT and now wants to grow further with the help of other European institutions.
FundsDLT uses technology and blockchain Ethereum to provide decentralized services. Institutions believe that the promised privacy and security foundation of this technology will help develop a more stable and reliable platform. FundsDLT offers a unique new way for the circulating fund mutual fund industry.
“The platform enables asset managers, distributors, asset managers and the entire supply chain to reduce costs by eliminating redundant activities while providing the opportunity to achieve the necessary transparency for end investors and create the foundation for digital distribution. Of funds. The financing of Series A will strengthen the FundsDLT platform and accelerate its commercial development ”, according to Credit Suisse's announcement.
The Luxembourg Stock Exchange strives to promote the adoption of blockchain technology and digital assets in the financial industry. He played a key role in the development of FundsDLT and now expands the ecosystem around him through new partnerships. Other partners also believe in blockchain's capabilities and features to help the investment management industry. Everyone is optimistic about the transparency characteristics of the technology.
Credit Suisse is one of the main partners of the FundsDLT platform. It is one of the leading asset management institutions in Switzerland and worldwide, managing more than 438 billion Swiss francs of assets.
"We continually seek to facilitate access to our products for customers. As part of our digitization journey, we see FundsDLT as a more powerful lever to increase efficiency, but also to create new distribution channels, allowing for considerable benefits for both customers and asset managers »said Michel Degen, Director of Credit Suisse Asset Management Switzerland and EMEA.
