Share page with AddThis


Axa IM completes first blockchain transaction

Blockchain3French fund manager Axa Investment Managers has announced the completion of its first market transaction using blockchain technology.

The firm, on behalf of Axa France, purchased from Societe Generale €3 million of unsecured bonds issued by the European Investment Bank in the form of security tokens on the public blockchain Ethereum.

Also involved was Societe Generale’s digital asset investor services group Forge.

“Blockchain can have a disruptive power for asset management processes, as part/or the entire asset management value chain could benefit from this technology over the long term,” said Laurence Arnold, head of innovation management and strategic initiatives at Axa IM.

“We believe this could improve the customer experience by accelerating the treatment of financial transactions and facilitating the exchange and storage of data,” added Arnold.

He also said that Axa IM is “keen to carry out tests in our changing ecosystem,” and to discover new techniques and markets.  

The transaction was one of several 'firsts' in recent days. 

In the FX market, HSBC and Wells Fargo announced the first interbank payment vs payment settlement outside of CLS using Baton Systems’ DLT-based service Core-FX. Meanwhile State Street and Vanguard completed their first live trade for FX forward contracts using DLT.

©2021 fundsTech

Most read features

Roundtable: The digital transformation opportunity

The funds industry is looking at adopting new types of technology, from automation to ESG reporting, blockchain and tokenisation. A FundsTech roundtable in March explored how these will revolutionise the sector.

Tokenisation: The incredible potential of tokenisation

Tokenisation offers a new generation of investors access to a wide range of asset classes. But a lack of analysts is one reason why the market may not be ready for the possibilities, finds Nicholas Pratt.

Regulation: Panel calls for simplicity in ESG reporting

The industry accepts the need for more rigour in ESG fund reporting, but the work will be pointless if investors don’t understand the end result. Nicholas Pratt reports.

Cryptocurrencies: Crypto funds face long wait for regulatory approval

While crypto currencies forge onwards, access for investors who prefer to invest through regulated vehicles remains muted. A wait-and-see stance by regulators lies at the centre of this, finds Nicholas Pratt.

Managing the impact of ESG reporting

A rise in ESG reporting requirements is impacting asset managers in every conceivable way. The solution, discovers Nicholas Pratt, is to use all of this newly found data to form a closer relationship with the next generation of investors.

Sponsored Profiles

The importance of trust when building successful client-vendor teams

Petra Roche and Anna Kanior-FlorekFundTech speaks to Metrosoft’s Petra Roche and Anna Kanior-Florek about cross-organisational relationships and why mutual trust...

The digitally connected Global Transfer Agent

Anand Ramachandran, Vice President, Global Head of Solutions, Richard Clarkson, Head of Solutions, Funds and Swapnil Joshi, Senior Strategy Manager from Oracle Financial Services Global...

Data consolidation takes centre stage in asset management M&A

MergersConsolidation between asset management firms is overwhelmingly expected to increase. Operational challenges remain thanks to legacy systems. But in a recent...

Are you being microserved?

As asset managers grapple with new digital technology, FundsTech talks to Calastone’s Adam Belding about the importance of software architecture and the benefits...