July 19, 2024

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Legacy investment management firm, Abrdn has joined the Hedera Governing Council as it looks to deepen its foothold in the digital currency and blockchain ecosystem.

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According to Duncan Moir, senior investment manager at Abrdn, who spoke in an interview with the Block, the firm is focused on tokenization as it wants to explore new trading capabilities for its investors. 

As a member of the Hedera Governing Council, Abrdn will join the likes of DBS, Google, IBM and Standard Chartered, amongst others, to run nodes for the Hedera protocol and shape the future of the protocol by being a part of its decision-making process. Abrdn was integrated as a governing council member based on its significant interest and belief that blockchain is the next frontier in tech.

“We’re really long-term investors,” Moir, senior investment manager at Abrdn, said in the interview. “We see this as being a very long-term story for us and for the industry.” 

Blockchain technology is most renowned as a revolutionary tool to revamp the investment world. Moir is confident in the enterprise’s capabilities of the Hedera protocol and is ready to explore its capabilities to meet its long-term goals.

“I don’t think anybody is really, let’s say, full service. They’re very much focused on specific things, and they’ve been dipping their toes in,” Moir said of the capabilities of the blockchain-linked solution. “We want to go about it a bit more comprehensively.”

The choice of Hedera as the base protocol to advance its push is hinged on the sustainability of the protocol. Notably, Hedera Hashgraph was rated as the most sustainable protocol ahead of Algorand, Cardano, and Ethereum by researchers at the University College London (UCL).

While Hedera has made a name for itself in the enterprise world, it will need much more integrations like that being offered by Abrdn.

Image source: Shutterstock

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