Global asset management firm AllianceBernstein has partnered with Allfunds Blockchain to deploy AB’s blockchain ecosystem.
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The accompanying statement notes that AllianceBernstein is eying opportunities in digital assets as part of its short-term investments.
The head of AllianceBernstein’s Investment Innovation Center says that the firm expects the technology to transform the asset management sector. The executive added that blockchain technology would be useful in enhancing transactional efficiency and transparency.
Allfund Blockchain, a subsidiary of distribution platform Allfunds (ALLFG), integrates blockchain technology with funds for an additional safety layer and efficiency.
AllianceBernstein had $687 billion in assets under management as of May 31, 2022. Allfunds stock jumped 1.4% on Euronext Amsterdam as of 8.50 UTC.