BNY collaborated with Baillie Gifford on the launch of the first publicly available, fully native UK-regulated tokenised fund. BNY is providing tokenisation and wallet infrastructure for the fund, as well as transfer agency services, supporting a direct issuance model designed to reduce operational complexity and improve transparency. The fund is structured so that tokens are issued directly as investors’ holdings in the fund, supporting a native tokenised model within a regulated framework.
BNY has also launched with BlackRock and BNY Investments Dreyfus to implement these capabilities for their funds.
The Reed Smith team advising BNY was led by partners Damian Carolan, Joe Motto, and Will Atherton, supported by a cross-practice team from across the firm.
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