The British pension and investment giant Legal & General (L&G), managing $1.5 trillion in assets, is preparing to enter the world of blockchain tokenization. Tokenization allows transforming traditional assets, such as money market funds, into blockchain tokens, increasing efficiency and reducing costs.
Legal & General Investment Management (LGIM) is considering issuing tokenized liquid funds. According to Ed Wicks, global head of trading at LGIM, digitizing the fund industry is key to expanding investments.
The company already has experience with blockchain, having started using Amazon Web Services infrastructure to manage annuities in 2019.