The $5.7 trillion asset manager Vanguard has completed the first phase of its pilot testing of settlements for blockchain-based asset-backed securities.
Vanguard, the world’s second-largest index fund manager, has announced the successful completion of the first phase of its blockchain pilot trialing the digitization of asset-backed securities (ABS).
The pilot has seen Vanguard partner with a large U.S.-based ABS provider, distributed ledger technology provider Symbiont, and financial institutions BNY Mellon and Citi, to model the full life cycle of securities settlement using a distributed ledger technology network.
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