Tokenization step coming from British giant managing $1.5 trillion

The investment arm of Legal & General, one of the world’s largest financial services and insurance companies, has begun researching fund tokenization. The company, which manages $1.5 trillion in assets, has previously made positive statements on the subject and described the field as “revolutionary.”

Tokenization step coming from British giant managing $1.5 trillion

Legal & General, a financial services company known for its experience in the insurance sector, has begun researching blockchain technology and tokenization. The investment arm of the London-based company announced that it has begun researching ways to offer its funds as tokens.

The company, which has approximately 1.1 trillion pounds ($1.5 trillion) under management, said, “As Legal & General investment management, we have begun research to offer liquidity funds in a tokenized format.”

The company’s liquidity funds are designed for short-term and ultra-short-term cash management, and try to meet companies’ operational cash needs while also creating fixed income.

In the United Kingdom, tokenization was permitted in 2023 under the supervision of the Treasury and the Financial Conduct Authority.

Speaking about tokenization at the time the permission was granted, the company’s CEO at the time, Michelle Scrimgeour, said, “It is great that our country is a pioneer in technological developments… Fund tokenization will have a revolutionary effect on the progress of our industry.”

It is known that American giants, especially BlackRock and Franklin Templeton, attach great importance to tokenization.

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