SETL’s Fund Record-Keeping Platform Trials Live Blockchain Transactions

OFI Asset Management has carried out live blockchain transactions on the IZNES fund record-keeping platform built on blockchain tech from startup SETL.

According to a press release, OFI AM conducted trials with clients during which transactions were “successfully” made over the IZNES system – a European platform developed by the two firms.

Other asset managers including Groupama AM, Arkéa Investment Services have also been involved in the project, the release adds.

SETL Development Ltd CEO Peter Randall said that the trials are an “important step” in bringing blockchain technology to the asset management sector, with benefits including lower costs and increased transparency and workflow.

Randall added:

When this project is fully operational it will be the largest single instance, by value, of a permissioned blockchain in the world.

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