Euroclear has announced it has acquired a stake in blockchain-based network Iznes to explore the technology’s future capabilities.
The Belgium-based financial services company will invest in Iznes to find new opportunities within the asset management market, signalling its commitment to adopting blockchain technology and updating its infrastructure for future possibilities.
Euroclear noted that established post-trade groups, like themselves, are viewed as threats from distributed ledger technology to remove intermediaries from the processing chain.
Philippe Laurensy, Head of Product, Strategy and Innovation at Euroclear, stated: “We are convinced that the mutualisation of data and further automation of processes, supported by digital technologies, have a real potential to reduce the overall cost of funds distribution.
The transaction, for which no financial details were disclosed, adds to Euroclear’s other investments in the blockchain and digital technology market.
These include the 2021 acquisition of digital fund distribution platform MFEX and last year’s takeover of private funds digital marketplace Goji.
