- Calastone launches Tokenised Distribution solution allowing asset managers to tokenize funds on multiple blockchains without operational changes.
- The solution targets new pools of blockchain-based capital, including stablecoin issuers and crypto-savvy investors.
- Tokenized funds are integrated with Calastone’s infrastructure, automatically processing on-chain orders through their existing systems.
Calastone, a Carlyle-owned company, has unveiled its Calastone Tokenised Distribution solution enabling asset managers to tokenize any fund on Ethereum, Polygon, and Canton blockchains. The service provides a frictionless process that requires no fundamental changes to existing funds or administration systems. Calastone currently processes approximately £250 billion ($327 billion) in fund investments monthly.
"We make it possible to distribute existing funds via blockchain networks, instantly and at scale, without any operational upheaval or technical reinvention," said Adam Belding, CTO at Calastone.
Tapping Into Blockchain-Based Capital
The new offering gives asset managers access to emerging sources of investment capital. Blockchain treasurers and stablecoin issuers typically prefer keeping assets on-chain, which has attracted them to tokenized money market funds like BlackRock‘s BUIDL and Franklin Templeton’s FOBXX. The solution also appeals to wealthy crypto-savvy individuals and retail investors.
Julien Hammerson, CEO of Calastone, emphasized this opportunity: "New pools of capital are forming on blockchain networks, and they are not being accessed through traditional channels. Our Tokenised Distribution solution gives asset managers instant reach into these markets."
The development aligns with growing tokenized collateral initiatives that may expand the range of assets usable as collateral. Tokenized money market funds are likely candidates for this expansion. A notable example is stablecoin issuer Circle’s recent partnership with NYSE owner ICE. Circle also operates USYC, a yield-bearing money market fund that ICE will use for collateral.
Smart Contract Integration
Calastone has been exploring blockchain applications for years. Belding previously suggested tokenizing not just funds but also their underlying components like stocks and bonds. This launch represents a practical first step toward that vision.
The solution features smart contract-based fund tokens integrated with Calastone’s existing systems. This integration ensures on-chain orders flow through Calastone’s infrastructure, with tokens automatically minted and burned to match issuance and redemption activities.
By building this bridge between traditional fund management and blockchain networks, Calastone addresses the technical barriers that have previously limited asset managers’ participation in the growing tokenized asset ecosystem.
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