AllianceBernstein to Add Blockchain Technology in Deal With Allfunds Unit

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AllianceBernstein Takes Steps Towards Tokenisation With Blockchain  Collaboration - Public News Time

AllianceBernstein said blockchain technology will be transformative to the asset -management business.

Global asset manager AllianceBernstein Holdings (AB) is working with Allfunds Blockchain to adapt its services to the blockchain ecosystem, according to a press release.

  • Allfunds Blockchain, an arm of fund distribution platform Allfunds (ALLFG), focuses on integrating blockchain technology with funds to provide an additional layer of safety and efficiency.
  • AllianceBernstein had $687 billion in assets under management as of May 31, 2022.
  • The agreement indicates that while AllianceBernstein is still lukewarm on digital assets as investments in the short-term, as it said in April, it sees advantages in the underlying technology.
  • “We anticipate that this technology will be transformative to the asset management industry, uncovering significant transactional efficiencies and enhanced transparency as well as operational agility that makes investment solutions available to a broader investor base,” Ronit Walny, head of AllianceBernstein’s Investment Innovation Center, said in the statement.
  • Allfunds shares rose 1.4% on Euronext Amsterdam as of 8:50 UTC.

UPDATE (June 15, 8:54 UTC): Adds AB attitude to digital assets in third bullet point, Allfunds shares.

source:coindesk.com

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