Blockchain For End-To-End Fund Transactions Trialed By BNP Paribas Asset Management

Announcements, Blockchain | January 11, 2018 By:

BNP Paribas Asset Management, the autonomous asset management business of BNP Paribas Group, has successfully conducted a blockchain trial on complete end-to-end fund transactions. The company claimed that it is among the first global asset managers to take part in this prototype testing.

The trial, carried out late last year, was made through the company’s Fund Link or FundsDLT, a digital fund distribution platform based on blockchain and smart contract technology. The blockchain sytem was developed in collaboration with Fundsquare, InTech, and KPMG Luxembourg.

The company claimed the trial demonstrated that FundsDLT can connect with other blockchains by completing an end-to-end fund transaction. The whole process was completed on the blockchain, from delivering the money to processing the trade.

BNP Paribas Asset Management COO Fabrice Silberzan described the trial as a unique opportunity to shape the future of the asset management industry.

“While investors will benefit from reduced transaction time, we will also profit from a sleeker, more streamlined system underpinned by technology and relevant for all fund types and geographies,” he said.

Said Fihri of KPMG Luxembourg said the pool of asset managers using FundsDLT to perform test transactions is expanding. He added that the participation of leading asset managers like BNP Paribas Asset Management is a clear indication of the platform’s growing maturity.