SS&C Technologies has completed the acquisition of Calastone for approximately $1.03 billion, marking a major step toward integrating blockchain into global fund operations. The deal, executed through private equity firm Carlyle, gives SS&C access to the world’s largest funds network built on distributed ledger technology (DLT). This acquisition signals the increasing adoption of blockchain infrastructure by traditional financial institutions seeking greater automation, transparency, and operational efficiency.
Calastone currently connects over 4,500 financial institutions across 58 countries and handles transactions exceeding £250 billion ($333.72 billion) every month. The platform’s blockchain-based architecture facilitates real-time settlement and end-to-end automation for fund transactions—capabilities that align closely with the growing institutional interest in tokenized securities and blockchain-enabled settlement systems.
SS&C’s chairman and CEO, Bill Stone, reportedly viewed the acquisition as a major advancement in global fund operations, emphasizing that the merger would help the company enhance innovation, extend its reach, and simplify processes for clients worldwide.
Integration and Strategic Outlook
Under the acquisition agreement, Calastone’s 250 employees will join SS&C’s Global Investor and Distribution Solutions division, led by General Manager Nick Wright. The integration will merge Calastone’s blockchain-driven funds network with SS&C’s established services in fund administration, transfer agency, and automation.
Calastone’s chief executive, Julien Hammerson, expressed optimism about the transition, suggesting that joining SS&C would bring expanded opportunities and resources for both clients and staff.
The purchase was financed through a mix of debt and cash, with SS&C increasing its Term Loan B facility by $1.05 billion at SOFR+200, maturing in 2031. The company expects the acquisition to be accretive within a year, signaling confidence in Calastone’s contribution to long-term profitability.
Blockchain Infrastructure for Tokenized Assets
Calastone’s adoption of blockchain technology dates back to 2019, when it migrated its entire network to distributed ledger infrastructure. This transition enabled automated workflows, reduced reconciliation processes, and provided real-time data exchange—making it one of the first financial market infrastructures to fully leverage blockchain in production systems.
The platform’s blockchain foundation is seen as adaptable to the expanding tokenization trend. As asset managers explore issuing fund shares as digital tokens on both private and public blockchains, Calastone’s infrastructure could serve as a bridge connecting traditional fund operations with decentralized markets. Major financial players such as BlackRock, Franklin Templeton, and WisdomTree have already launched tokenized investment products, increasing the demand for interoperable systems that can support both conventional and digital asset operations.
Expanding Global Presence and Market Relevance
Calastone’s offices in key global financial hubs—including London, Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney—enhance SS&C’s presence across Asia and Europe. These regions have witnessed growing regulatory and institutional focus on tokenization and digital asset markets, providing SS&C with greater strategic reach.
The company’s newly expanded infrastructure will cater to transactions involving mutual funds, exchange-traded funds (ETFs), and alternative investments, covering processes such as order routing, settlement, and reporting. By digitizing these workflows through blockchain, SS&C aims to lower costs, shorten settlement times, and improve transparency for clients operating in complex financial ecosystems.
The acquisition also underscores a broader svghift within traditional finance, as banks and financial service providers increasingly view distributed ledger technology as a tool for operational modernization rather than disruptive overhaul. With Calastone’s technology integrated into its portfolio, SS&C is now positioned to support both traditional and crypto-native firms, providing hybrid solutions that blend existing financial frameworks with emerging digital asset ecosystems.
