iCapital announces on-chain deployment of private equity funds issued by UBS Wealth Management

Investment platform iCapital announced that it will deploy private equity funds issued by UBS Wealth Management on the blockchain for the first time, and use distributed ledger technology to handle all activities related to the fund lifecycle, including subscription, reporting, and liquidity events. iCapital said that deploying distributed ledger technology will help eliminate the burden of verifying activities that occur over 100,000 times on average during the life of private capital funds. UBS executives have not yet responded to requests for comment on the deployment of private equity funds on the chain.