abrdn plc Joins Hedera Governing Council, Cementing its Vision for Web3 and Client-centric Fund Management
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Thursday, October 6, 2022
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EDINBURGH, Scotland, Oct. 6, 2022 /PRNewswire/ -- Investment company abrdn has today joined the Hedera Governing Council as the first buyside finance and asset management company on the Council. abrdn believes that distributed ledger technology (DLT) has the potential to transform structural inefficiencies that exist in the fund management industry. It sees Hedera as the technology of choice for this shift due to its interest in strong governance, operational efficiency, and the environmental sustainability of Hedera's best-in-class energy efficiency.
Key Points:
- abrdn believes that distributed ledger technology (DLT) has the potential to transform structural inefficiencies that exist in the fund management industry.
- abrdn is currently examining future prospects for the tokenization of investment funds, using Hedera, with the aim of listing these on a digital exchange.
- Hedera's network is capable of cutting through management work and making tokenized money management faster and more cost-efficient, while preserving its security and sustainability.
- abrdn also sees scope to work with service providers to use Hedera for their other DLT-based services, allowing a fully onchain experience for fund investing.