Earlier this month, UBS announced that it has invested an undisclosed amount in online alternatives platform iCapital. ICapital aims to democratize access to alternative investments for advisors serving high-net-worth investors.
UBS will also adopt iCapital's technology in its private fund operations.
"We are excited to re-engineer our alternatives infrastructure and equip our financial advisors with the efficiencies, intelligence and controls of tech-enabled workflows," Jerry Pascucci, managing director at UBS and head of alternative investments for Wealth Management Americas, said in a statement. "iCapital's proprietary technology and end-to-end service offering provide a seamless operational solution, making these strategies and exposures more accessible and helping advisors deliver better service to their ultra-high-net-worth clients."
BlackRock also announced an investment in iCapital in December 2016. Frank Porcelli, chairman of BlackRock's US Wealth Advisory business and the head of its Digital Wealth Solutions group, joined the firm's advisory board.
Users with Dash to burn can now spend it in the Apple app store. Dash Core, the firm that created the cryptocurrency Dash, announced on Wednesday that it has been accepted as an approved cryptocurrency in the app store.
This means that app developers can integrate Dash as a form of payment in wallets and apps they create.
