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Credit Suisse subsidary the latest bank to complete DLT testing.

Credit Suisse Asset Management has completed a cross border trade trial with Portugal’s Banco Best and have “successfully processed live end-to-end fund transactions” utilizing distributed ledger technology.

According to the Fundsquare blog, the parties partnered with FundsDLT, KPMG and software provider InTech for the trial.  Banco Best developed its own API and custom applications.  Fundsquare states:  The cross-border distribution of an investment fund over blockchain demonstrated the solidity of a new model that proved to be more efficient, scalable, and timely in processing, and marks another milestone for transforming fund distribution. 

Comments from Credit Suisse Asset Management’s Chief Digital Officer, Pascal Nageli noted that “considerable benefits can be achieved with distributed ledger technology for both clients and asset managers.

The trade transaction for the investment fund was full lifecycle, beginning with order delivery to end processing of the trade.

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