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L&G Enters Blockchain Space: Is Blockchain the Future of Finance?

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L&G Enters Blockchain Space Is Blockchain the Future of Finance

Traditional Finance Embraces Tokenization: L&G Enters Blockchain Space

Traditional Finance Embraces Tokenization: L&G Enters Blockchain Space

The use of tokenization by traditional financial institutions has increased significantly. This intensified when BlackRock, the world’s largest asset management firm, joined the market with its Ethereum-based BUIDL fund. Legal & General (L&G), a London-based pension and investment management firm with $1.5 trillion in assets under management, intends to join the growing number of big financial organizations that are interested in blockchain-based tokenization.

L&G’s Blockchain Journey: From AWS Integration to Tokenized Investment Funds

The history of L&G‘s experimentation with blockchain technology dates back to 2019, when the insurer announced its intention to administer and record bulk annuities for its insurance business using an Amazon Web Services (AWS) managed blockchain system.

We are evaluating ways to make the Legal & General Investment Management Liquidity funds available in tokenized format. Digitization of the funds industry is key to improving efficiency, reducing cost and making a broad range of investment solutions available to a wider range of investors. We look forward to continued progress in this space,

Ed Wicks, global head of trading at Legal & General Investment Management (LGIM)

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L&G Enters Blockchain Space: Is Blockchain the Future of Finance?
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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