Post-trade group Euroclear has acquired a stake in Iznes, a pan-European blockchain-based network within the asset management market.
The transaction, for which no financial details were disclosed, adds to Euroclear’s other investments in the blockchain and digital technology sector. These include the 2021 acquisition of the digital fund distribution platform MFEX and last year’s takeover of the private funds digital marketplace Goji.
This acquisition exemplifies how post-trade and market infrastructure providers like Euroclear are embracing blockchain technology to enhance their capabilities and stay relevant in an evolving landscape. Traditionally, established infrastructure players and post-trade groups have been seen as vulnerable to distributed ledger technology, which aims to eliminate intermediaries from processing chains.
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.”