Standard Chartered Bank has partnered with the decentralized fund distribution platform FundsDLT to enhance transparency using its blockchain transfer agency software

ChainCatcher news, the decentralized fund distribution platform FundsDLT announced that it has reached an agreement with Standard Chartered Bank, which will use FundsDLT's regulated cloud and blockchain-based transfer agency software to enhance efficiency and transparency, with the initial phase launching in the Middle East and North Africa.

It is reported that FundsDLT was established by the Luxembourg Stock Exchange and was acquired by Deutsche Börse Group in August, developing a transfer agency and fund distribution platform. 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 collection.