Deutsche Börse Group is set to acquire the remaining shares in FundsDLT, a Luxembourg-based company that leverages distributed ledger technology for fund distribution and processing.
FundsDLT is instrumental in the development of D7, a new cloud-supported and DLT-ready platform launched by the German exchange operator. This platform aims to provide same-day issuance and facilitate paperless, automated straight-through processing for the entire value chain involving issuance, custody, settlement, payment, and asset servicing of digital securities.
Having already held a significant minority stake, Deutsche Börse is now buying out the former stakeholders, Credit Suisse Asset Management and Natixis Investment Managers.
Philippe Seyll, CEO of Clearstream Fund Centre, remarked, “The acquisition of FundsDLT is a critical and natural step in our digital strategy. It positions us at the forefront of innovation and will fundamentally redefine the distribution chain within the fund industry. This move enhances our distribution capabilities, streamlines operations, and connects asset managers more effectively with retail clients through blockchain technology. Market participants can expect faster time to market and reduced costs in accessing funds.”
Seyll added that this acquisition will allow the technology to scale industrially, complementing Clearstream’s current fund processing and distribution services.
Olivier Portenseigne, CEO of FundsDLT, expressed, “Our objective is to empower fund distributors and asset managers to simplify their business and operational models through blockchain and fund tokenization. We aim to provide a technological foundation that allows their clients to connect to fund products more easily and cost-effectively.”