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    <title>institutional-blockchain on Media Presser</title>
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      <title>BNY Will Run Transfer Agency Records for $8.6 Trillion in Assets on Blockchain</title>
      <link>https://mediapresser.com/bny-will-run-transfer-agency-records-for-8.6-trillion-in-assets-on-blockchain/</link>
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      <description>BNY, the largest bank in the world for safeguarding assets, plans to use blockchain technology for the transfer agency record-keeping systems that service roughly $8.6 trillion in assets. Not a pilot, not a tokenized fund share class, and not a settlement experiment. The record of who owns what.
Transfer agency is the least glamorous function in asset servicing and the one where the technology fits best. A transfer agent maintains the official shareholder register for a fund: subscriptions, redemptions, transfers, distributions, and the reconciliation between the fund&amp;rsquo;s records and every distributor, platform, and nominee holding positions on behalf of end investors.</description>
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