An official representative of the management company Legal & General (L&G) announced its intention to join the initiatives of large traditional financial market players such as BlackRock, Franklin Templeton and Abrdn. These companies offer their clients asset placement in blockchain-based money market funds.
“We are evaluating ways to provide Legal & General Investment Management liquid funds in tokenized form,” the British company said.
L&G noted that through the digitization of traditional stock instruments, the company hopes to improve the efficiency of using money, reduce operating costs, and also offer clients a greater choice of investment solutions.
L&G representatives said that the investment company has a long-standing successful track record of implementing blockchain-based solutions. In 2020, L&G began implementing the Amazon Web Services (AWS) blockchain system to manage and record large annuities in its insurance business.
Source: Bits
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