Broadridge enters DeFi with new solutions connecting legacy finance and blockchain
Broadridge Financial Solutions (NYSE: BR) announces Broadridge Digital Assets Solutions, which includes ClearFi, to help financial institutions develop digital asset plans and stay in regulatory compliance. The solution provides transparent and standardized data.
New platform to scale digital asset strategies
Broadridge Financial Solutions, Inc. (NYSE: BR) has launched Broadridge Digital Assets Solutions to help financial institutions scale their digital asset strategies in a way that satisfies regulatory demands. The solution leverages ClearFi, introduced in October 2024, which standardizes data from hundreds of sources to provide transparent insights on digital assets.
Solving for market demand and regulatory compliance
The platform serves cryptocurrency exchanges, broker/dealers, wealth managers, digital asset custodians, and investors. According to Mike Tae, Co-President of Broadridge's Investor Communication Solutions Business, the solution aims to democratize investing by enhancing access and visibility into digital assets. ClearFi remedies the fragmentation and complexity of digital asset data, normalizing information to meet growing demand for disclosure and governance solutions.
Strategic positioning and market impact
Broadridge's entry into the digital asset space with its end-to-end suite of solutions demonstrates excellent market foresight. The solution solves the overwhelming challenge of information availability and accuracy, one of the significant barriers to broader adoption. By building a bridge between traditional finance (TradFi) and decentralized finance (DeFi), Broadridge is facilitating institutional adoption and positioning itself as an essential infrastructure provider in this emerging market.
The tech strategy focuses on data aggregation and standardization, leveraging Broadridge's strengths and reducing regulatory and operational risk. The action is consistent with the company's competencies in investor communications and financial data management, opening up new revenue streams in a high-growth market.
