Abrdn takes another step into digital assets with Hedera partnership

Quick Take

  • Asset manager Abrdn is doubling down on digital assets and DLT technology by joining the Hedera network’s governing council. 
  • This comes after the UK investment firm took a major stake in digital exchange Archax. 

UK investment firm Abrdn is taking another major leap into the digital asset space by partnering with enterprise network Hedera. 

The asset manager, which oversees $579 billion in assets, will join the likes of Google, FIS, Standard Bank and Nomura on the Hedera Governing Council. 

“We're really long-term investors,” said Duncan Moir, senior investment manager at Abrdn, in an interview with The Block. “We see this as being a very long-term story for us and for the industry.” 

What is the Hedera network?

Hedera is an enterprise DLT stack that uses the hashgraph consensus mechanism for transactions. 

The Hedera Governing Council run the consensus nodes, which determine the transaction ordering. They also manage the software and vote on decisions related to the network. 

Many major industry players from the council are building on the network. IBM uses Hyperledger Fabric in its solutions, while digital workflow company ServiceNow is