One of the largest asset-management companies in the UK, Abrdn, invests in digital securities exchange Archax, becoming its largest external shareholder.
According to the press release, Archax is the first and only digital securities exchange to be granted FCA approval for trading, custody, and brokerage, and the platform is set to go live later this year.
With this strategic partnership, Abrdn intends to use the platform as a means for investors to gain access to new investment opportunities via digital securities.
Abrdn also intends to connect to existing offerings in new ways via tokenization, and facilitate a shift toward greater operational efficiencies via the adoption of new technologies such as blockchain.
Abrdn CEO Stephen Bird noted, “With Archax, we will have a meaningful footprint in this fast-developing market – which is likely to evolve in a multitude of different ways that are relevant to our core businesses. This investment creates a partnership with some of the leading thinkers in an area that has the potential to play a substantial role in the future of finance.”
Archax CEO Graham Rodford stated, “We look forward to working with abrdn closely to provide a new universe of users with access to our services, as well as creating new innovative tokenized products that will trade on our marketplace.”
