Corastone Brings Permissioned Blockchain Technology to UMB Fund Services' Alternative Investment Servicing
Corastone Brings Permissioned Blockchain Technology to UMB Fund Services' Alternative Investment Servicing |
| [25-June-2026] |
StepStone becomes the first UMB client to connect to Corastone's network, streamlining subscription and lifecycle operations, with recordkeeping support from Envision. NEW YORK, June 25, 2026 /PRNewswire/ -- Corastone, the hyperscaler for private-market investing, today announced a partnership with UMB Fund Services, Inc. (UMBFS), a subsidiary of UMB Financial Corporation (NASDAQ: UMBF), a national leader in registered and alternative investment fund administration services, to connect UMBFS to Corastone's private, permissioned distributed ledger technology (DLT) network. The collaboration between Corastone, UMBFS, and Envision replaces manual, document-based workflows and one-off integrations with a shared data standard that supports straight-through processing for all market participants involved in a given transaction. Corastone will act as the underlying transaction infrastructure, enabling market participants to connect and exchange data while preserving their existing client relationships and service models.
UMBFS will act as a transfer agent and fund administrator on the platform, enabling straight-through processing of alternative investment transactions across the entire fund servicing lifecycle. UMBFS's transfer agency operations are supported by Envision Financial Systems' investor recordkeeping platform, which helps drive automation and operational efficiency across servicing workflows. StepStone Group (Nasdaq: STEP), a leading global private markets investment firm, is the first UMBFS client to connect to the Corastone network — using Corastone's shared distributed ledger technology to streamline subscriptions, reduce manual reconciliation, and improve data accuracy across all parties to a transaction. After initially connecting to Corastone's network, UMBFS and any of their clients connected to Corastone can exchange standardized investor and transaction data in real time. This eliminates rekeying and minimizes reconciliation breaks, creating a uniform, trusted source of fund information for every participant in the workflow. "UMB Fund Services is committed to investing in technology that helps our clients operate more efficiently as the alternative investment market continues to grow," said UMB Fund Services Director of Transfer Agency Operations Brittany Haiser. "By connecting to Corastone's permissioned DLT network, we are giving clients like StepStone a more standardized, transparent and scalable way to manage subscription and fund servicing workflows. We are excited to partner with Corastone to bring greater automation, accuracy and operational efficiency to an increasingly complex segment of the market." "Envision is proud to support UMB Fund Services with technology that helps modernize operations, increase automation, and improve the client experience. Together, this collaboration with Corastone reflects a shared commitment to creating a more efficient, scalable model for alternative investment servicing," says Brian Jones, Envision Chief Operating Officer. UMBFS's successful integration builds on growing institutional momentum, including Franklin Templeton's recent partnership with Corastone to launch Private Market Model Portfolios, along with Fidelity, Hamilton Lane and Future Standard joining the platform as investors. The partnership also demonstrates UMBFS's continued growth amid increasing demand for alternative investment servicing. "Fund administrators and transfer agents are the operational backbone of private markets, and digitizing their workflows is essential to supporting the growth of private assets as investor demand increases," said Hamid Gayibov, Co-Founder and President of Corastone. "Bringing UMBFS live on our network with StepStone as the first client to transact through it shows how shared, permissioned infrastructure can reduce friction across the investment lifecycle without forcing firms to rebuild their systems. As a neutral infrastructure provider, our role is to serve as the connective layer between market participants, helping them scale more efficiently while preserving the relationships and operating models that differentiate their businesses. " " As private markets activity continues to expand across wealth and institutional channels, firms are increasingly seeking transaction technology that performs at scale while reducing manual intervention. Corastone, through its proprietary permissioned blockchain network, functions as shared infrastructure and a common data standard for private markets workflows — connecting general partners, wealth managers, transfer agents, and fund administrators on a single platform, while allowing each participant to maintain ownership of its client relationships, servicing model and operating workflows. About Corastone About UMB About StepStone About Envision Financial Systems Media Contacts
SOURCE Corastone | ||
Company Codes: NASDAQ-GS:STEP,NASDAQ-GS:UMBF,NASDAQ-NMS:STEP,NASDAQ-NMS:UMBF |
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