Financial services provider Apex Group has announced that it is digitising traditional fund shares into security tokens. Describing it as “a first of its kind share class”, the firm reveals in a press release that its Maltese arm, Apex Malta, will be administering the product on the Polygon blockchain.
The main advantage of using blockchain for these security tokens is “streamlined, transparent fund administration and transfer agency”, states the firm. Other benefits include near-instantaneous transaction settlement; transparent and auditable records; broader investor accessibility through fractional ownership; enhanced operational efficiency via automation; and security through blockchain cryptography.
