Northern Trust, a provider of wealth management, asset servicing, asset management, and banking, today announced that it has partnered with BondEvalue to deliver integrated asset servicing and digital solutions for fractional ownership of fixed-income bonds.
Founded in 2016, BondEvalue’s regulated platform will facilitate the trading of fractionalized investable assets based on wholesale bonds, while Northern Trust will be its exclusive asset servicing provider.
BondEvalue’s platform combines the power of blockchain-based distributed ledger technology (DLT) to enable enhanced transparency and liquidity, while making institutional-grade investment opportunities available to new classes of investors.
“We are excited to work with Northern Trust in making bond markets more efficient and transparent for bond investors, via our fractional bond exchange. It is important for us to have a partner who recognizes the potential of DLT and is nimble in their technological adoption. As we journey towards making bonds more widely accessible, we are delighted to have Northern Trust as a partner who offers investors and exchange participants the confidence in the integrity of the platform offering.”
– Rahul Banerjee, founder, BondEvalue
This partnership follows news that the BondEvalue platform had been granted permission to enter the Monetary Authority of Singapore’s Sandbox Express to launch its blockchain-based bond exchange.
“Singapore has an advanced regulatory framework which enables the establishment of our relationship with BondEvalue. The partnership is a further step in our blockchain technology capability buildout for Asia-Pacific. And this marks a significant milestone for the Singapore branch, as Northern Trust’s regional headquarters.”
– Yen Leng Ong, country executive for Southeast Asia at Northern Trust
The MoU between Northern Trust and BondEvalue was signed back on November, 5th 2019.