UK-Based Global Funds Network Calastone Switches Entire System to Blockchain

Calastone, a London-based global funds network announces that it made a massive switch of its entire fund trade clearing services system to blockchain Distributed Market Infrastructure (DMI) in a press release published on May 20.

As per the release a migration of this level i.e. over 1,800 customers from more than 41 markets “represents the largest community of global financial services organizations connecting and transacting via distributed ledger technology.” The institution further forecasted that the resulting savings for the mutual funds market will purportedly amount to over £3.4 billion per year ($4.33 billion).

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