Blockchain Startup

World’s Largest Financial Services Community on Blockchain

Enterprise Infrastructure


London-based global funds network Calastone is switching its entire system for fund trade clearing services to blockchain this May, Reuters UK reports today, Dec. 3. Calastone processes mutual fund trades for over 1,700 financial companies, including JPMorgan Asset Management, Schroders, and Invesco, according to Reuters. The move will transform current services by using a shared ledger to automate the nine million messages that are sent between counterparties every month, reportedly worth over £170 billion ($217 billion).
Long term vision:
Calastone cites data from “Big Four” audit firm Deloitte, which estimates that adopting blockchain technology could save the global fund industry — excluding the U.S. market — £3.4 billion pounds ($4.3 billion) every year by optimizing trading and settlement processes.

Category Enterprise Infrastructure
Name Calastone Ltd
Founding Date 2019-5-1
Token Offering No
Technology n/a
Investors n/a
Job Offers n/a
Looking for Investors n/a
Looking for Equity Investors n/a
Looking for Speaking Opportunities n/a
Related Startups Trustology, Cobalt, iov42 Limited, Telegram Open Network

Report wrong data!