UK asset manager puts $68 billion of funds on-chain via Calastone token network

Legal & General Asset Management brings decades-old money market funds onto blockchain rails to expand access and enable faster settlement. What to know : Legal & General Asset Management has moved more than £50 billion in liquidity funds onchain via Calastone’s new Tokenized Distribution Network. The firm is offering money-market style funds as tokenized shares on blockchain infrastructure, enabling issuance, trading and same-day settlement in dollars, euros and pounds. Investors can now buy, hold and transfer tokenized units within a permissioned, regulated network, with funds launched on Ethereum and compatible blockchains, with more networks planned.