StashAway, a robo-adviser based in Singapore, has connected to UK-based funds transaction network Calastone to automate investment funds processing.
The digital wealth manager will utilise an API to connect to Calastone and use the latter’s Distributed Market Infrastructure (DMI) to promote its services globally.
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StashAway co-founder and CIO Freddy Lim said: “We are excited to join Calastone’s network and look forward to utilising the new services made available through the DMI, which will ultimately improve our competitiveness and benefit our customers.”
In 2017, Calastone unveiled plans to migrate to a private and permissioned-blockchain infrastructure. Last May, the firm went live with its blockchain DMI.
The business of Calastone is said to have recorded a noticeable growth in Hong Kong, Singapore as well as Taiwan.
Calastone managing director and head of Asia Leo Chen said: “StashAway’s connection to Calastone via an API gives it more control over its positions with on-demand access to all its fund trade data passing through our network, vastly improving their ability to adapt quickly to any market changes.”
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By GlobalDataStashAway was the first robo-advisory firm to get a full capital-markets services licence in Singapore. The firm has more than 100,000 users.
Last year, StashAway secured $12m in a Series B round led by Fidelity International’s investment arm, Eight Roads Ventures.
