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Legal & General Asset Management Moves Money Market Funds Onto Blockchain Rails

Legal & General Asset Management Moves Money Market Funds Onto Blockchain Rails

According to CoinDesk, Legal & General Asset Management has placed more than £50 billion of liquidity funds on Calastone’s tokenized channel, highlighting efficiency and distribution gains in fund infrastructure.

Fact Check
The strongest validated evidence is the fetched CoinDesk article, which explicitly states that Legal & General Asset Management 'placed the more than 50 billion pounds' in liquidity funds it manages onchain through Calastone’s Tokenized Distribution Network and includes an L&G quote that tokenized distribution offers 'meaningful enhancements in efficiency and reach.' This directly supports the user’s statement about more than £50 billion and efficiency/distribution gains. Corroboration comes from the official L&G press-release URL surfaced in search results, whose snippet says L&G’s liquidity funds, 'managing over £50 billion in liquidity assets,' are available in tokenised format. Although that official page could not be fetched successfully in this run, its existence and snippet are consistent with the CoinDesk report. No conflicting evidence was found.
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Summary

Legal & General Asset Management has put more than £50 billion of liquidity funds onchain through Calastone’s new distribution channel. According to CoinDesk, the announcement was made Wednesday, and Ross McDonald said tokenized distribution improves efficiency and reach. The update reinforces the scale of the asset manager’s use of blockchain-based fund infrastructure and adds management commentary on the operational benefits of tokenized distribution.

Terms & Concepts
  • tokenized distribution: A blockchain-based approach to fund distribution that digitizes processes or fund interests to improve operational efficiency and market access.