ZAR X, South African stock exchange platform incorporates blockchain technology for unit trusts.
A local stock exchange, popularly known for its simplicity, low-cost, transparency and agility, ZAR X in partnership with Adhara and Computershare South Africa has launched its first distributed settlement system for unit trusts in SA.
A unit trust is a type of investment that provides you with easy and affordable access to financial markets.
Using the distributed ledger technology, the new ZAR X system enables the public to purchase and settle unit trusts directly from fund managers in a secure environment.
The ZAR X system remakes the accustomed way of administering unit trusts using digital technologies as its basis.
The new platform, which will be available on the ZAR X mobile app, will work in much the same way that online share trading does. Investors will be able to view the features of a range of unit trusts and buy and sell holdings at the touch of a button. This means that individual investors can buy and sell a wide selection of shares very swiftly.
By making use of this blockchain technology ZAR X is living up to what it’s noted for. With this technology, ZAR X would firmly establish the use of blockchain technology and promote its futuristic prospects.