Crypto
BNY launches digital transfer agent service putting fund trades, shareholder records on blockchain
BNY will launch a digital transfer agent service that records fund transactions and shareholder records on a blockchain. A transfer agent is a financial institution or agent that manages shareholder registers, handles share issuance and cancellations, and pays dividends. The Financial Times reported that BNY, with more than $59 trillion in assets under custody and administration, will keep its existing transfer agent system while moving fund trade processing and shareholder register management to blockchain.
