According to Foresight News, decentralized fund distribution platform FundsDLT has announced a partnership with Standard Chartered Bank. The bank will use FundsDLT's regulated cloud and blockchain-based transfer agent software to improve efficiency and transparency, initially launching in the Middle East and North Africa. FundsDLT was established by the Luxembourg Stock Exchange and was acquired by Deutsche Börse Group in August. The platform has developed transfer agent and fund allocation software.
The main advantages of the software are increased efficiency and reduced costs. It allows asset managers, distributors, and client investors to share data in a permissioned manner. Additionally, it supports real-time cash receipts.