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

Legal & General (L&G), the London-headquartered pension and investment management firm with $1.5 trillion in assets under management, is plotting an entrance into the blockchain-based tokenization space that's growing popular among finance giants. Tokenization – or the representation of conventional assets like U.S. Treasuries-backed money-market funds via tokens on a blockchain – has become popular among traditional finance firms. L&G’s dalliance with blockchain technology stretches back to 2019, when the insurer said it planned to use the managed blockchain system from Amazon Web Services (AWS).

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