Why Singapore Is Bringing Blockchain Into Mutual Funds

Why Singapore Is Bringing Blockchain Into Mutual Funds? Check out Full Story

A $112 billion industry is crunching its settlement delays with smart contracts replacing faxes and emails at the backend.

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The Asian financial center has more than 1,200 asset management companies supervising S$146 billion ($112 billion) in so-called collective investment schemes

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Most people see “blockchain” and “funds” in the same sentence and immediately think of pools of money betting on cryptocurrencies like Bitcoin and Ether.

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That isn’t how Singapore sees the utility of distributed ledgers.

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They put in their buy orders for funds on a mobile app on an online platform, just like they would with a stock.

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The blockchain based trading platform will replace the existing TradeNet and TradeXchange platforms used for trading and logistics.

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