Forbes

Vanguard Is Now Using Blockchain Technology To Help Manage $1.3 Trillion In Index Funds

Vanguard Is Now Using Blockchain Technology To Help Manage $1.3 Trillion In Index Funds

Vanguard, the 44-year-old mutual giant famous for popularizing index investing, has completed one of the most noteworthy implementations of blockchain technology for a financial institution to date. It’s now using blockchain—the distributed ledger software that underpins cryptocurrencies like bitcoin—to help manage data for some of its most widely used financial products, including its largest mutual fund, the $800 billion Total Stock Market Index Fund.

The company behind Vanguard’s blockchain experiment is Symbiont, a six-year-old New York startup with 75 employees. Symbiont’s products aim to serve different functions for financial institutions, ranging from tracking the full life cycle of a mortgage security to settling securities trades

Forbes Fintech 50 2018: The Future Of Blockchain And Cryptocurrency

Sure, the wild swings in the price of Bitcoin and other cryptocurrencies dominate the daily news. But beneath the headlines, the nine blockchain startups on the ForbesFintech 50 list for 2018 are building infrastructure—to support both public cryptocurrency markets and initiatives that could transform how current financial transactions are executed and recorded.