Euroclear and IZNES announce that Euroclear will acquire a stake in IZNES, a pan-European funds marketplace based on blockchain technology.
The transaction will be subject “to customary closing conditions and regulatory approvals. Financial terms will not be disclosed.”
Established in 2017, IZNES is a regulated company “operating an international platform for subscriptions and redemptions of shares of European funds, compatible with various distribution channels. IZNES simplifies and harmonizes the subscription processes, brings more transparency and provides an improved customer experience both for management companies and institutional investors.”
Building on the acquisitions of MFEX in 2021 and Goji in 2023, Euroclear continues to enhance its Euroclear FundsPlace offering, “the end-to-end funds platform solution across mutual and money market funds, alternatives funds and ETFs.”
Through this strategic partnership with IZNES, Euroclear will complement its funds services on the French market and beyond and continue “the delivery of its funds strategy by playing an active role in the development of innovative funds distribution models.”
Philippe Laurensy, Head of Product, Strategy and Innovation at Euroclear, said:
“Our partnership with IZNES fits with Euroclear’s ambition to innovate and bring efficiency to the financial markets. We are convinced that the mutualisation of data and further automation of processes, supported by digital technologies, have a real potential to reduce the overall cost of funds distribution. IZNES’ solution has already delivered benefits to its users and our partnership is a natural step to broaden its usage at a larger scale.”
Christophe Lepitre, Chief Executive Officer of IZNES:
“This operation with Euroclear marks a key milestone in the development of IZNES. We are convinced that together we must continue to build innovative solutions that make the most of blockchain technology for the greater benefit of our customers. IZNES and its shareholders are delighted at this prospect.”
As noted in the update, Euroclear group is “the financial industry’s trusted provider of post trade services.”
Guided by its purpose, Euroclear innovates to “bring safety, efficiency and connections to financial markets for sustainable economic growth.”
Euroclear provides settlement and “custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds.”
As a capital market infrastructure, Euroclear says that it “is committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise.”
The Euroclear group reportedly “comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International.”