Legal & General Asset Management Offers Tokenized Liquidity Funds

Legal & General Asset Management (L&G) has expanded its distribution channels by offering tokenized versions of its liquidity funds through Calastone's blockchain-based network.

The £50 billion in assets managed by the fund will be available in tokenized form, denominated in US dollars, euros, and British pound sterling. The funds invest in high-quality, short-term money market instruments, including government bonds, bank deposits, and corporate debt.

Calastone's network provides infrastructure for token creation, order routing, trade aggregation, reconciliation, and on-chain settlement, integrated with existing transfer agent and fund administration systems.