The world’s first Blockchain marketplace for funds is adopting a new technology
This change opens a new chapter in IZNES’ history. It sets yet another milestone for IZNES to pursue its growth and develop new services. It serves its ambition as the leading blockchain-based marketplace for mutual funds. – Bruno Prigent, chairman of the board.
PARIS (PRWEB)
9 November 2022
IZNES, the leading blockchain-based marketplace for funds, has chosen Hyperledger Fabric as its new Blockchain to power all of its distributed ledger technologies (DLT) solutions.
IZNES was established in 2017 by a group of recognized asset management companies in Europe and has been operating since March 2019, and has been the first marketplace for transactions of fund shares on the blockchain.
With over 7 billion euros in assets under registry, and growing every day, IZNES committed to asset management companies and institutional investors to provide them with a unified solution to optimize their operations while reducing costs. “With this goal in mind, we decided that we needed a more robust, private and permissioned blockchain to support the growing activity in the market as we enter our scale-up phase,” says Christophe Lepitre, IZNES CEO.
Hyperledger Fabric guarantees the highest level of security, confidentiality and resilience necessary for regulated investment companies like IZNES. Fabric networks are permissive, meaning that all participating members’ identities are known and authenticated. This benefit is particularly useful in industries including finance, banking and insurance where data cannot be exposed to unknown entities.
IZNES previously ran on a privately licensed version of a closed-source blockchain. Jean-Robert Hervy, Managing Director and Chief Product Officer at IZNES, states that “Migration to Hyperledger Fabric, which is open source software, gives IZNES greater flexibility to create our own smart contracts for current and future financial products of the platform; while allowing IZNES to retain full control and ownership of the blockchain and software architecture.”
IZNES has chosen Amazon Web Services (AWS) and TechMahindra for this transition. The Amazon Managed Blockchain (AMB) service was retained by IZNES to host and maintain the DLT, while TechMahindra assisted the IZNES Tech team with the migration of legacy middleware and historical data.
Bhavesh Senedhun, Chief Technology Officer and overseer of the blockchain migration, indicated that the transition, carried out a couple of weeks ago, was smooth and seamless.
Bruno Prigent, chairman of the board, comments: “This change opens a new chapter in IZNES’s history. It sets yet another milestone for IZNES to pursue its growth and develop new services. It serves its ambition as the leading blockchain-based marketplace for funds”.
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About IZNES:
IZNES is the first European blockchain-based fund marketplace. IZNES offers a disruptive alternative to traditional channels and allows capital owners to subscribe directly to all types of French, Luxembourg and Irish funds from asset managers. The use of IZNES’s blockchain technology improves operational efficiency, reduces costs and offers institutional investors and asset managers an optimal level of security and IT resilience. IZNES is a regulated investment company under the supervision of ACPR and AMF; IZNES’s license has been extended to Luxembourg and Ireland. Website:
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