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U.K. Pension Giant L&G Looks to Enter Crypto's Tokenization Space

Legal & General (L&G), a large pension and investment management firm with $1.5 trillion in assets, is exploring the potential of entering the blockchain-based tokenization space. Tokenization, which involves representing conventional assets as tokens on a blockchain, has gained popularity among traditional finance firms. L&G's asset management arm, Legal & General Investment Management (LGIM), is considering making its Liquidity funds available in a tokenized format. The firm believes that digitizing the funds industry can improve efficiency, reduce costs, and make a broader range of investment solutions accessible to a wider range of investors. L&G has already been involved in blockchain technology since 2019 when it announced plans to use a managed blockchain system from Amazon Web Services for managing and recording bulk annuities.

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