BNP Paribas Asset Management has announced that it has successfully conducted a blockchain trial on complete end-to-end fund transaction in late 2017.

According to the official release, the test was conducted by leveraging BNP Paribas Securities Services’ blockchain programme, Fund Link, and FundsDLT, a blockchain-based decentralized platform for fund transaction processing developed through collaboration between Fundsquare, InTech and KPMG Luxembourg. It included each part of the fund trade process, from delivery of the order to the processing of the trade.

“The test demonstrated that Fund Link is able to connect with other blockchains, opening the door to a new model of interoperability and marks a key milestone for fund distribution,” the official release stated.

Officially announced in April 2017, Fund Link is a digital fund distribution platform based on blockchain and smart contract technology. BNP Paribas Securities Services partnered with AXA Investment Managers in the co-design phase of the project. With the successful trial, BNP Paribas Securities Services has become one of the first asset servicing providers to process a full end-to-end fund transaction using blockchain technology which is integrated within its core platforms.

BNP Paribas Asset Management said that it is among the first leading global asset managers to take part in this prototype testing.

“We have a unique opportunity to continue shaping the future of the asset management industry using digital technology, and transform the fund distribution process. While investors will benefit from reduced transaction time, we will also profit from a sleeker, more streamlined system underpinned by technology and relevant for all fund types and geographies,” Fabrice Silberzan, Chief Operating Officer, BNP Paribas Asset Management said.