Thirteen asset managers have joined an international blockchain record-keeping platform for EU mutual funds.
Allianz Global Investors, Amundi, Aviva Investors, BNP Paribas Asset Management, Candriam Investors Group, and Natixis Asset Management are among those to join the IZNES platform.
IZNES, which is powered by blockchain technology provider SETL, recently went live and processed its first real transactions.
The technology provided by SETL aims to improve client access to mutual funds and overall operational workflow, as well as reducing transaction costs, according to IZNES.
It has also announced its first fundraising round with five asset managers joining OFI Asset Management and SETL as shareholders, after participating in the development of the platform for several months.
“I am delighted to welcome Arkéa IS, Groupama AM, La Banque Postale AM, La Financière de l’Échiquier et Lyxor AM as shareholders of IZNES, and to announce new contributors to the project,” said Pierre Davoust, CEO of IZNES.
“With 20 asset managers, representing together more than €5 trillion of assets under management, IZNES now benefits from a solid market backing and becomes a central market infrastructure.”