The company said in a statement that Figure Technologies has launched new digital mutual fund services for blockchain investment firms.

San Francisco-based fintech has used the blockchain and is looking to use technology to automate many of the paper fundraising and money management processes. Services include raising capital, on-board investments, dealing with clients, anti-money laundering, banking secrecy laws, digital subscriptions, capital calls, and transfer agents.

The idea is to allow mutual funds to focus on their core strength, and invest, said Mike Cagney, co-founder and CEO of Fig.

“Figures digital money offering is the first comprehensive blockchain solution that combines digital fundraising and ongoing money management tools with a primary market for capital appreciation and a future secondary market for fund interest trading.”

The figure also announced that Friends & Family Capital II venture capital fund is the premier partner for an investment firm that uses blockchain services. According to Fig, the fund will also use these services for “fully digital secondary trading with the interests of the fund” and making near-real-time decisions at T + 0 without counterparty risk and with lower transaction costs.

This is not the first time that the format has made use of the blockchain. The figure also contains a blockchain-based marketplace for buying and selling loans.

Source: CoinTelegraph