The global fund processing firm, Calastone, is the latest business to embrace blockchain in a bid to further digitize this part of the industry.


It seems as if every day brings more news of blockchain adoption. The technology is spreading its wings and flying far away from just being used for cryptocurrencies. The list of sectors that are using it is becoming increasingly long and varied, from art to healthcare. Whenever records need to be stored or paperless dreams need to be achieved, the technology appears to be a popular answer.

Calastone is embracing blockchain.

Blockchain Could Save Billions

According to Reuters, global investment firm Calastone has announced that May 2019 will see its whole system move onto the blockchain. The firm, which is a fund transaction network, has a list of well-known clients including JP Morgan Asset Management and Schroders. By providing back- and middle-office services, Calastone gives their clients the ability to sell their funds all over the world through financial institutions.

At the moment, this is done through a time-intensive service which consists of sending three messages between firms when they want to buy into a fund. The first message is to place the order, the second is to confirm the receipt thereof, and the last one is to confirm the price. With over 1,700 firms to take care of, Calastone facilitates about nine million of these messages every month worth about $217 billion. By migrating to blockchain, Calastone believes that annual savings could be as much as $4.3 billion.

The Chief Marketing Officer at the firm, Andrew Tomlinson, briefly explained what the move could encourage, saying:

The more you can automate, the more you de-risk, you more you streamline, the more you speed up.

Cryptocurrencies

It’s For More Than Just Crypto

The technology has grown in leaps and bounds from its initial purpose of supporting virtual currencies like Bitcoin and the like. As mentioned previously, it can be the ideal solution for businesses that rely on record keeping or data transactions.

Live Bitcoin News has previously reported that many big names have integrated the technology into their supply chain management processes. One of these is major U.S. retailer Walmart, who will be using blockchain in its food traceability processes. Recently, we also reported on how the crude oil industry will be benefiting from blockchain by using it as part of their trading operations.

The growth of the industry has resulted in many countries vying for that title of “blockchain hub” with nations like Malta and the Bahamas working towards making their islands an attractive option for blockchain developers. In addition, Austria has recently announced plans to launch their Austrian Blockchain Center.

Do you think that Calastone’s blockchain migration will be a success for the firm? Let us know in the comments below!

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Malaysia will enact regulations for cryptocurrency and Initial Coin Offerings (ICO) in Q1 2019, local English-language news media outlet The Star reported Nov. 28.

The publication quoted finance minister Lim Guan Eng, who said Wednesday said the country’s regulator, the Securities Commission (SC), had updated him with a timeframe for the new rules.

The move will form “part of the SC’s efforts to facilitate alternative fundraising avenues and new investment asset classes,” The Star added.

Malaysia has taken a piecemeal path to regulation of its domestic cryptocurrency industry, originally beginning the process in late 2017.

Authorities have sought to control the sector in the meantime, Lim telling parliament that entities wishing to issue cryptocurrencies must consult the country’s central bank, Bank Negara Malaysia.

“I advise all parties wishing to introduce Bitcoin (style) cryptocurrency to refer first to Bank Negara Malaysia as it is the authority that will issue the decision on financial mechanism,” Cointelegraph reported him as saying Monday.

This month, a Malaysian politician had also recommended putting on hold approval for a government-backed cryptocurrency issuance project until the regulations came into force.

Malaysia has sought to foster its relationship with blockchain this year, November also seeing the Education Ministry set up a university degree verification system using the technology.

This post is credit to cointelegraph

Epoch Partners launched the retail public offering for a new hedge fund in Japan this week that will focus on cryptocurrencies and digital assets. Subscriptions for the offering, which opened on Oct. 15, have been capped at 100 billion yen ($892 million).

Also Read: Research: 1 of 5 New Hedge Funds in 2018 Is a Crypto Fund

Diverse Crypto Exposure
for Japanese Investors

Crypto Hedge Fund Launches Retail Public Offering in JapanThe company, which is based in the Cayman Islands, said the new Epoch Digital Assets fund will invest in a range of investment vehicles with broad exposure to various cryptocurrencies, initial coin offerings and other digital assets. The hedge fund, which will seek aggressive returns while attempting to offset volatility, aims to offer retail investors diversified exposure to the crypto market via small investments.

Teneo Partners will market the fund in Japan in cooperation with a number of other undisclosed securities firms throughout the country. “As a fully licensed Japanese securities company that specializes in offering offshore alternative funds to Japanese investors, we are delighted to be working with Epoch Partners,” said Stanley Howard, CEO of the Tokyo-based firm.

“The ability to offer a truly unique diversified digital asset fund to our distribution and investor networks allows us to more fully address the increasingly diverse investment needs of our clientele and to differentiate ourselves from our competitors within the Japanese securities industry.”

Enormous Potential

Crypto Hedge Fund Launches Retail Public Offering in JapanJames Skinner, a partner at Epoch Partners, described Japan as a “leader” in the promotion of cryptocurrencies and digital assets. “They were the first market to create a proper regulatory framework for cryptocurrencies, and as such can be seen as the world pioneer in this area,” he said. “We were very keen to undertake the world’s first public offering of a cryptocurrency fund in Japan and look forward to great things ahead.”

However, Skinner added that he still sees plenty of room for growth in the country. “The asset class is still young, but the movement to more institutional players like Goldman Sachs and Nomura entering the space shows the great potential of this area,” he explained. “In the future, digital assets are likely to become an integrated part of investment portfolios, similar to equities and fixed income products today, albeit on a smaller scale.”

Is Japan set to become the world’s crypto finance capital? Share your thoughts in the comments section below.

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