The Luxembourg Stock Exchange, together with Credit Suisse and other financial institutions, is preparing to launch the FundsDLT investment platform based on the Etherium blockchain.
The system is being developed by the Luxembourg Stock Exchange and its subsidiary Fundsquare, the asset management department of Credit Suisse Bank, as well as Clearstream and Natixis Investment Managers. Through the use of DLT technology, FundsDLT will reduce costs for asset managers, distributors and institutions serving cryptographic firms, eliminating redundancy and ensuring a fully transparent allocation of funds.
According to one Credit Suisse employee, DLT and smart contracts will simplify account management, transaction processing and reporting. He added that in addition to the Etherium block, the platform uses the Quorum privacy protocol to provide a higher level of security.
The representative of the firm specified that the platform will focus on providing services that usually require intermediaries, but DLT will make this process much faster and more efficient. Chief Operating Officer of Natixis Investment Managers Joseph Pinto pointed out the need to introduce a blockbuster in investment management, which will allow all stakeholders to clearly track the flow and distribution of funds received. In addition, the developers of the FundsDLT platform announced the launch of the Series A funding round.
Credit Suisse began testing the blockbuster technology to process transactions with investment funds last February, with great success. Later, Credit Suisse's top manager Emmanuel Aidoo said that the introduction of the blanket in the banking and financial industry is constrained by the desire of bankers to maintain the "status quo".
The Luxembourg Stock Exchange, together with Credit Suisse and other financial institutions, is preparing to launch the FundsDLT investment platform based on the Etherium blockchain.
The system is being developed by the Luxembourg Stock Exchange and its subsidiary Fundsquare, the asset management department of Credit Suisse Bank, as well as Clearstream and Natixis Investment Managers. Through the use of DLT technology, FundsDLT will reduce costs for asset managers, distributors and institutions serving cryptographic firms, eliminating redundancy and ensuring a fully transparent allocation of funds.
According to one Credit Suisse employee, DLT and smart contracts will simplify account management, transaction processing and reporting. He added that in addition to the Etherium block, the platform uses the Quorum privacy protocol to provide a higher level of security.
The representative of the firm specified that the platform will focus on providing services that usually require intermediaries, but DLT will make this process much faster and more efficient. Chief Operating Officer of Natixis Investment Managers Joseph Pinto pointed out the need to introduce a blockbuster in investment management, which will allow all stakeholders to clearly track the flow and distribution of funds received. In addition, the developers of the FundsDLT platform announced the launch of the Series A funding round.
Credit Suisse began testing the blockbuster technology to process transactions with investment funds last February, with great success. Later, Credit Suisse's top manager Emmanuel Aidoo said that the introduction of the blanket in the banking and financial industry is constrained by the desire of bankers to maintain the "status quo".
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