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Abdrn has said it will likely trade cryptocurrencies like bitcoin at some point in future as it pushes ahead with its existing work in tokenisation and digital securities.
Russell Barlow, head of alternatives at the FTSE 100 asset manager, said: “Would we consider trading crypto? I’d be foolish to say no.”
Barlow was speaking at City Week, a conference in London, on 25 April. Abrdn is the biggest external shareholder in digital assets firm Archax, which recently rolled out a custody service that gives institutional investors access to digital assets.
However, Barlow added that Abrdn sees bigger opportunities in tokenisation of existing assets such as stocks and bonds.
? I think we will. Will we have products in the space? Yes.” tagline=”Russell Barlow” smallhead=”” newsletter=”” placement=”Inline”]
“Will be trading crypto? I think we will. Will we be trading with the current assets [such as bitcoin]? I think we will. Will we have products in the space? Yes.”
“But where we see the opportunity is in the adoption of digital securities as the next evolution along the structure.”
“I can see in the future, people really want to expand the concept of digital assets and away from just crypto assets.”
READ The Fintech Files: Is the crypto winter coming to an end?
The UK is drawing to a close on a consultation on how to regulate digital assets. Firms like Abrdn have previously indicated they are unlikely to carry out trades of cryptocurrencies without a regulatory regime in place.
Meanwhile, the European Union passed its landmark Markets in Crypto Assets regulation last week, in a move experts say will pile pressure on UK and US watchdogs to follow suit.
Archax chief executive Graham Rodford told Financial News in March that tokenisation was the “main focus” of his work with Abdrn.
“But they want to embrace the technology across the organisation,” he added. “So like every financial services business, can they save money and improve operational efficiencies? Can they make more exciting products? Can they distribute them more readily?”
“So they are open to ideas across the board, but fund tokenisation is the thing that everyone is talking about.”
To contact the author of this story with feedback or news, email Alex Daniel
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