Why Vanguard is convinced it needs a blockchain for over-the-counter FX trading
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Quick Take
- Vanguard partnered with Symbiont for a pilot that automated FX transactions
- Using blockchain for OTC mitigates the need for back and forth between counterparties and cuts down transaction time which means less exposure for both parties
- OTC doesn’t have an established centralized system, making it the space where Vanguard is looking to start its blockchain automation
Over the past year, mutual fund giant Vanguard has been implementing blockchain technology into its business with the help of tech firm Symbiont.
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