Clearstream, Credit Suisse, the Luxembourg Stock Exchange and Natixis Investment Managers chip in the series A funding to take their Funds DLT project towards commercialisation.
A press release from Deutsche Börse Group, owner of Luxembourg-based international CSD Clearstream, describes Funds DLT as “a groundbreaking blockchain-based platform for the investment fund industry”, yet does not quantify the amount of money injected in this series A financing round.
As we noted a year ago, the project then said it had been technically successful in getting a transaction smoothly through the whole process – then between Credit Suisse Asset Management and portuguese Banco Best.
According to the press release, the Funds DLT solution builds on “using permissioned blockchain technology based on Ethereum that ensures privacy and high performance”.
“Funds DLT enables the reengineering of the fund distribution value chain, from front to back, covering the entire fund lifecycle,” it reads further.