Allfunds, a wealthtech and fund distribution provider has launched a new business company “Allfunds Blockchain”. Allfunds Blockchain will bring a completely unique and powerful blockchain technology with features not yet seen in the market. The wealthtech will offer this technology for fund distribution activities, offering the capability to understand the best adaptation strategy and use of the blockchain technology in different core dealing activities in the value chain. The company will operate as a separate entity under the Allfunds umbrella and be led by Ruben Nieto who will report directly to Allfunds CEO, Juan Alcaraz.
In details, the new company will offer two clearly differentiated solutions that are entirely independent. It will provide a technical Solution which is Allfunds Proprietary Blockchain Platform that adds unique capabilities over the Ethereum technology, solving the major concerns about data governance in blockchain ecosystems in order to create secure enterprise solutions as well as a Business Solution with Allfunds Business Smart Contracts that will allow fund distribution.
Additionally, with their business solution Allfunds will offer blockchain technology for fund distribution activities, offering the capability to understand the best adaptation strategy and the use of the blockchain technology in different core dealing activities in the value chain. Allfunds is already working with top financial institutions to test Allfunds Blockchain technology and the different capabilities ready to use thanks to revolutionary smart contract solutions.
Juan Alcaraz, CEO Allfunds, said “Blockchain technology is known to deliver greater transparency, enhanced security, improved traceability, increased efficiency and speed of transactions. Having developed our own proprietary blockchain technology we will bring to market ground-breaking features and advantages to the wealthteach industry. We see the great potential in this technology”.
Allfunds Blockchain will operate as a separate entity under the Allfunds umbrella and be led by Ruben Nieto. Ruben was previously Allfunds Head of Innovation and has more than 15 years’ experience within IT at Allfunds. In his new role he will lead Allfunds Blockchain as Managing Director and will report directly to Allfunds CEO, Juan Alcaraz.
In the coming weeks Allfunds plans to announce strategic agreements with several of the top fund houses, distributors and players in the market.