SEI and Ctrl Alt to Explore Tokenization in Bank of England's Sandbox
With 10% of global GDP expected to be tokenized and stored on the blockchain by 2027,1 numerous organizations have recognized the impact that tokenization could have on the financial services industry. Established to explore blockchain's potential to improve the efficiency of post-trade processes, the DSS will evaluate how these technologies can be used by firms to issue and trade securities. As part of the collaboration, SEI will provide the underlying assets for tokenization in the initiative's second phase, and if successful, SEI may manage custody and crypto-asset activity during that phase.
"Tokenized solutions have the potential to enhance security, transparency, and efficiency to drive significant improvements across financial services. Building upon our roots in innovation and leveraging our ability to connect the industry in ways that others cannot, we're committed to unlocking benefits across the entire asset lifecycle and value chain through this collaboration. We look forward to working with Ctrl Alt, the
In addition to this initiative,
Discussing the strategic investment,
"The financial services landscape continues to experience significant digital evolution, with blockchain technology demonstrating the potential to create a more efficient and secure ecosystem. We are focused on making strategic investments in the fintech and wealthtech space that enable us to accelerate and capitalize on opportunities to transform the wealth management experience, and we're thrilled to collaborate with Ctrl Alt to explore ways to potentially unlock those opportunities. We believe the combination of our 57 years of industry knowledge with Ctrl Alt's expertise and nimbleness will help drive innovation and growth."
"As interest in tokenization continues to increase among financial institutions, we've built our solutions to seamlessly enable the tokenization of assets within the parameters of traditional financial structuring, so the industry can benefit from the technology with legal certainty. SEI's breadth of capabilities across technology, operations, and asset management enables them to innovate across the financial services ecosystem because of the connections they've built. We're confident our strategic partnership will help push the industry forward and power the future of wealth."
1
About SEI®
SEI (NASDAQ:SEIC) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of
About Ctrl Alt
Combining blockchain technology and expert financial engineering, Ctrl Alt is a B2B infrastructure business providing solutions in the alternative assets space. As of
With offices in the
For further information, visit www.ctrl-alt.co or contact via, info@ctrl-alt.co.
This press release contains forward-looking statements by SEI and its affiliates within the meaning of the rules and regulations of the
- the potential benefits of tokenization in the financial services industry,
- the potential benefits of the SEI collaboration with Ctrl Alt,
- the focus of the investment strategies of SEI and its affiliates,
- the drivers of innovation and growth, and
- the degree to which SEI and/or its affiliates will realize the expected value of their investments.
You should not place undue reliance on SEI's forward-looking statements as they are based on the current beliefs and expectations of SEI management and subject to significant risks and uncertainties many of which are beyond SEI management's control or are subject to change. Although SEI management believe the assumptions upon which SEI's forward-looking statements are based are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in SEI's forward-looking statements can be found in the "Risk Factors" section of SEI's Annual Report on Form 10–K for the year ended
Company Contact: |
Media Contact: |
|
|
|
|
SEI |
Vested |
+1 610-676-3262 |
+44 (0)7393 477 057 |
View original content:https://www.prnewswire.com/news-releases/sei-and-ctrl-alt-to-explore-tokenization-in-bank-of-englands-sandbox-302422244.html
SOURCE