Broadridge Launches New Digital Asset Information Platform to Help Financial Intermediaries Comply with Regulatory Guidelines
The Broadridge® ClearFi solution provides investors with user-friendly information on digital assets.
NEW YORK, Oct. 31, 2024 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), today announced the launch of Broadridge® ClearFi ("ClearFi"), a new suite of products to help financial intermediaries operating within the Digital Asset space to get out ahead of current and emerging disclosure regulations. ClearFi helps broker-dealers, exchanges, and wallet providers provide their clients and participants with useful on-chain and off-chain information about digital assets, including cryptocurrencies, stable coins, and DeFi innovations made available through their platforms.
"Exchanges, broker-dealers, wallet providers, regulators, and elected officials are all eager to ensure that everyday investors have information to know what their investment products are," said Rob Krugman, Broadridge's Chief Digital Officer. "By working with industry partners throughout the process, we've created a platform that helps investors and advisers quickly access better understand and monitor their digital asset investing."
ClearFi was built with the needs of investors in mind, stemming from discussions with partners and research on the information investors say is important to them. Results from Broadridge's Digital Asset Disclosure Survey found that many investors want basic information that is otherwise difficult for them to access because it is both on- and off-chain, and that others want to better understand how to evaluate digital assets. Additionally, client conversations highlighted a clear need for a broad agreement to provide investors with standardized and tailored information to address needs that evolving regulatory frameworks are looking to address.
Comprehensive Overview for Informed Decisions
ClearFi consolidates and aggregates both on-and off-chain information and content to provide an overview of the digital asset, including information on the underlying technology, tokenomics, governance, and purpose. The information provided is updated in near real-time.
Because there isn't an "issuer" in the traditional sense of the work with many digital assets, ClearFi combines on-chain data with information collected from hundreds of trusted off chain data sources. The information is mapped to a standardized taxonomy enabling intermediaries including exchanges, brokers and asset managers to provide insight into the assets available on their platforms. This first of its kind standardized taxonomy for digital assets was built to help foster greater literacy while enabling individuals to evaluate, compare and educate themselves on assets. ClearFi data can also be used by intermediaries to address emerging global regulations, including Canadian and UK know-your-product ("KYP") rules and MiCA Whitepaper reporting requirements.
"The introduction of ClearFi demonstrates Broadridge's continued leadership and innovation in improving disclosure as investing democratizes across economies," said German Soto Sanchez, Broadridge Chief Product and Strategy Officer.
Developed within Broadridge's innovation lab, 605 Studios, the ClearFi solution is available globally today through a web interface and API.
605 Studios focuses on identifying and developing cutting-edge technologies, products, and businesses that drive financial services forward in support of capital markets and clients. Its approach towards innovation is based upon solving industry challenges.
For more information, please visit https://www.broadridge.com/clear-fi.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information, please visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Gregg Rosenberg
Global Head of Corporate Communications
Gregg.Rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.
