Abrdn Takes Stake in Digital Assets Exchange
Posted by Colin Lambert. Last updated: August 12, 2022
UK asset manager Abrdn has taken a stake in Archax, a UK-regulated exchange providing access to blockchain-based digital assets. The exchange will launch later this year as part of a custody, trading and brokerage offering.
Abrdn says it aims to use the venue as a route through which investors can access new investment opportunities through digital securities, connect to existing offerings in a new way through tokenisation and facilitate a shift towards greater operating efficiencies through the adoption of new technologies like blockchain.
“Blockchain technologies are inevitably going to form a big part of the future of financial markets,” says Stephen Bird, CEO of Abrdn. “There is the potential to offer greater transparency, greater speed and less trading friction by using these nascent digital technologies.
“Archax is one of the most promising UK players in this next expected high growth area in finance – the use of digital and tokenised securities with same-day settlement,” he continues. “In that sense, the growth of the digital investment market is about much more than cryptocurrencies. 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 not only provides an opportunity for substantial financial benefits, it also 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,” he adds.
“We see this as a massive statement of belief in what we have built at Archax, as well as being a key milestone in our evolution and for the digital/tokenised world as a whole,” says Graham Rodford, CEO of Archax. “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 tokenised products that will trade on our marketplace.”