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UK asset manager puts $68 billion of funds on-chain via Calastone token network
Legal & General Asset Management brings decades-old money market funds onto blockchain rails to expand access and enable faster settlement.
Apr 15, 2026, 7:17 p.m.
What to know:
- Legal & General Asset Management has moved more than £50 billion in liquidity funds onchain via Calastone’s new Tokenized Distribution Network.
- The firm is offering money-market style funds as tokenized shares on blockchain infrastructure, enabling issuance, trading and same-day settlement in dollars, euros and pounds.
- Investors can now buy, hold and transfer tokenized units within a permissioned, regulated network, with funds launched on Ethereum and compatible blockchains, with more networks planned.
The U.K.-based firm said it now offers its money-market style funds as tokenized shares on the Calastone Tokenized Distribution Network, which uses blockchain infrastructure to handle issuance, trading and settlement.
The funds operate in U.S. dollars, euros and pound sterling and aim to provide capital preservation, same-day settlement and yield, the firm’s statement adds.
Calastone’s system manages token creation, order routing, trade aggregation and reconciliation while linking to existing fund administration systems. L&G said its investors are now allowed to buy, hold and transfer tokenized units within a permissioned network designed for regulated access.
