Bloomberg: Lloyd's Bank and Aberdeen Investments partner with Archax for forex trading cooperation

BlockBeats news, on July 14th, according to Bloomberg, Lloyds Banking Group Plc and fund management company Aberdeen Investments have established a partnership with cryptocurrency trading platform Archax, aiming to reduce the cost of the trading department by using digital assets as collateral for foreign exchange contract trading. This collaboration enables foreign exchange trading between Aberdeen and Lloyd through blockchain technology, which allows real-world assets to be tokenized and used as collateral. Under the plan, digital tokens supported by British treasury bond bonds and units of Aberdeen Investment Money Market Fund have been issued, transferred and managed by Archax, headquartered in the United Kingdom.