UK pension giant L&G seeks to enter the Cryptocurrency tokenization field

BlockBeats news, on October 21, Legal & General (L&G), a London-based pension and investment management company managing $15 trillion in assets, is planning to enter the increasingly popular blockchain-based tokenization field. Tokenization (representing traditional assets such as US Treasury-backed money market funds through tokens on the blockchain) is gaining traction in TradFi companies. With the world’s largest asset management company, BlackRock, launching its BUIDL fund on the ETH blockchain, this trend is further accelerating. Other companies include Franklin Templeton, State Street, and Abrdn. L&G executives stated, “We are evaluating the method of providing Legal & General Investment Management Liquidity fund in tokenized form.”