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BNP Paribas Asset Management Tests Blockchain for Fund Transactions

BNP Paribas Asset Management has completed a full end-to-end fund transaction test using blockchain technology, according to a story in The Trade news. The test was conducted using BNP Paribas Securities Services’ Funds Link and FundsDLT blockchain platforms, which were developed alongside the Luxembourg Stock Exchange’s Fundsquare, InTech and KMPG Luxembourg. BNP Paribas asserted the test demonstrated Fund Link’s ability to connect with other blockchains, marking a milestone for fund distribution from delivery of the order to the processing of the trade. The asset manager is among the first to take part in blockchain prototype testing, which it said is in line with its growth plans that put innovation and technology at the forefront of its strategy. 

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