• Wed, 24 Apr 2019, 08:51 AM
  • All times are UTC
  • Edition:
Link copied

Italian asset management firm AcomeA trials blockchain technology for distribution of funds

Mon, 18 Mar 2019, 11:05 am UTC

Italian asset management firm AcomeA SGR has announced that it has successfully completed the first test for distribution of funds using blockchain technology.

The investment fund shares transaction test and related payment was carried out in collaboration with Fundsquare, which provided blockchain-based infrastructure FundsDLT, and Fabrick, which was responsible for the API and banking part of the project.

Through its Gimme5 service for direct distribution of funds to savers, AcomeA SGR was able to carry out real-time subscription and redemption transactions of shares of investment funds and related payments. The transaction involved using smart contracts and connections via an API to the banking network.

“The importance of the test lies not only in the technical aspects; the collaboration with Fundsquare and Fabrik demonstrates the value of cooperation in the Fintech sector; working together we are able to bring notable benefits not only to operators in the asset management sector, but above all also to savers,” Giordano Martinelli, Vice President and Head of technology at AcomeA SGR said.

According to the official release, the test demonstrated the potential of blockchain technology to enhance efficiency and cost savings in processing D2C orders in investment funds. The technology enables various actors involved in the distribution process to interoperate and offer a digital front-to-back experience to final customers.

“European fund actors continue to move towards the future with ongoing innovation in the D2C space. The FundsDLT initiative aims to help investment fund companies improve their buyer journeys, reduce costs, increase efficiency and ultimately create value for investors,” Olivier PORTENSEIGNE, Fundsquare Managing Director, said.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $5,507.34 (-1.08%)
  • Ethereum (ETH) $165.96 (-5.55%)
  • XRP (XRP) $0.301200 (-7.93%)
  • Bitcoin Cash (BCH) $278.41 (-8.65%)
  • EOS (EOS) $4.91 (-8.53%)
  • Bitcoin (BTC) $5,507.34 (-1.08%)
Apr 24, 2019 (Wednesday)
Disney in talks to acquire Bitstamp and Korbit owner Nexon: Report
University of Nevada, Reno teams up with blockchain startup Filament on smart city mobility project
Crypto exchange Coinbase shuts Chicago division
MIT and other universities team up to explore blockchain potential for management of academic credentials
Societe Generale issues €100m of covered bonds as security token on Ethereum blockchain
Apr 23, 2019 (Tuesday)
Blockchain identity startup Civic expands network with 12 automated retail partners
Binance launches decentralized exchange ‘Binance DEX’ on Binance Chain
Hyundai to use blockchain in new smartphone-electric vehicle pairing technology
China opens first blockchain-powered notary office in Beijing
WISeKey to open Blockchain Center of Excellence in Saudi Arabia
Data-driven marketing firm Ascent Networks joins PUBLISH Alliance
British Virgin Islands partners with LIFElabs.io for crypto payments system
Japanese crypto exchange Zaif resumes operations after hack
Apr 22, 2019 (Monday)
Bithumb’s parent company BXA eyes US and Japanese markets for expansion
Bitcoin nonprofit BitGive partners with digital money platform Uphold
JPMorgan to add new functions to blockchain-based Interbank Information Network
Florida lawmakers introduce bill to establish blockchain task force
Dutch supermarket chain Plus to use blockchain to track bananas along supply chain
Crypto exchange Coinbase adds support for Augur’s Reputation token
Tennis superstar Serena Williams backs crypto exchange Coinbase
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.