Standard Chartered Bank to use FundsDLT blockchain-based transfer agent software

According to reports, decentralized fund sales platform FundsDLT has announced that it has reached an agreement with Standard Chartered Bank. Standard Chartered Bank will use FundsDLT's regulated, cloud-based and blockchain-based transfer agent software to improve efficiency and transparency. The initial integration phase will be launched in the Middle East and North Africa, enabling Standard Chartered Bank to enhance its services to investment funds and asset management companies.

Earlier in August, Deutsche Börse Group announced that it would acquire the remaining shares of FundsDLT. FundsDLT is a Luxembourg-based company that uses distributed ledger technology for fund allocation and processing.