Blockchain fund recording platform launches 15 September 2017London Reporter: Theo Andrew
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A new pan-European record-keeping platform that will “revolutionise the fund industry” has been launched by blockchain payments company, SETL, in partnership with four asset managers.
The IZNES platform, based on blockchain technology, allows investors, asset management firms, distributors and wealth management advisors to quickly access fund units, while connecting firms with investors.
According to SETL, IZNES is compatible with all distribution channels and will reduce transaction costs and increase transparency. Additional value-add services are also being developed.
OFI Asset Management (AM), Groupama, La Financiere de L’Echiquer and Arkea Investment Services partnered with SETL to create the service.
The partnership is now working on an improved version of the platform, to be released in 2018.
Jean-Pierre Grimaud, CEO of OFI AM, said: “OFI AM wanted to be actively involved in this market project, which offers asset management firms new distribution solutions in the interest of investors, thanks to blockchain technology.”
Pierre Davoust, CEO of SETL France, added: “IZNES is the result of the alignment between the strong demand from asset management firms to establish a simple, effective relationship with their investors and the cutting-edge technology developed by SETL.”
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