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Vanguard's Pilot To Digitize ABS Issuance Sees Initial Phase Completion

Dawn Wu

Summary: Investment management company Vanguard announced on June 11 that, together with fintech firm Symbiont, it completed the beginning phase of a blockchain pilot to digitize the issuance of asset-backed securities (ABS).

Investment management company Vanguard announced on June 11 that, together with fintech firm Symbiont, it completed the beginning phase of a blockchain pilot to digitize the issuance of asset-backed securities (ABS). 

Warren Pennington, the principal and head of Vanguard's Investment Management FinTech Strategies Group, said, "By digitizing and streamlining the ABS issuance process, we will be able to increase the speed and transparency of transactions while reducing costs and minimizing exposure to risk."

By Dawn Wu

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