Melon partners with AK Jensen to launch blockchain-based compliance hedge fund, tested in UK sandbox

Avantgarde Finance, the development company behind the decentralized digital asset management agreement Melon, partnered with hedge fund platform AK Jensen to test a compliance hedge fund driven by blockchain technology, which is being launched by the UK's Financial Conduct Authority (FCA) Testing in the regulatory sandbox, the goal is to demonstrate how smart contracts can automate back-office and mid-stage processes, thereby eliminating the need for various financial intermediaries under compliance requirements. Managing traditional investment funds involves tedious processes such as establishment, custody, fund management, and other daily management activities, and these funds can transfer management processes to the chain for automation to reduce the cost of starting and operating funds.