KUALA LUMPUR, Nov 13 -- Northern Trust and BondEvalue have entered into a strategic partnership to deliver integrated asset servicing and digital solutions for fractional ownership of fixed income bonds.
The memorandum of understanding between both companies was signed on Nov 5.
BondEvalue’s regulated platform will facilitate trading of fractionalised investable assets based on wholesale bonds, while Northern Trust will be its exclusive asset servicing provider.
BondEvalue’s platform combines the power of blockchain-based distributed ledger technology to enable enhanced transparency and liquidity, while making institutional grade investment opportunities available to new classes of investors.
This partnership follows the recent news that the BondEvalue platform had been granted permission to enter the Monetary Authority of Singapore’s Sandbox Express to launch its blockchain-based bond exchange.
Northern Trust country executive (Southeast Asia), Yen Leng Ong said: “Singapore has an advanced regulatory framework which enables the establishment of our relationship with BondEvalue.
“The partnership is a further step in our blockchain technology capability buildout for Asia-Pacific. And this marks a significant milestone for the Singapore branch, as Northern Trust’s regional headquarters.”
-- BERNAMA
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