Credit Suisse said its asset management arm has successfully tested blockchain to process investment fund trades. Credit Suisse Asset Management used a blockchain-based platform to process an unspecified number of trades involving Portugal’s online bank Banco Best and Fundsquare, an order-routing platform. These entities said in a statement after the test that it had showed cross-border distribution over blockchain was more efficient, scalable and timely in processing. Credit Suisse confirmed the test was conducted but did not say whether the asset management arm, which managed funds worth more than $400 billion, would use the technology more widely.
