MUFG to acquire DLT based superannuation administrator GROW Inc - Ledger Insights - blockchain for enterprise. MUFG Pension & Market Services (MPMS) has entered into a binding agreement to acquire GROW Technology Services, a fintech superannuation administration platform whose core product is built on distributed ledger technology. The Australian Financial Review reported the price at around AUD 78 million (US$56 million), roughly a third of GROW's valuation a year earlier. The deal remains subject to regulatory, shareholder and court approvals. GROW's flagship product DLTA runs on R3's Corda Enterprise blockchain. The platform uses the distributed ledger as a shared registry, giving all parties to a transaction access to a single source of truth for fund and investor data. No single party can alter a record without consensus from others in the network and privacy is preserved. The Corda connection is notable because MUFG, through a separate division, founded Progmat, Japan's largest tokenized securities platform. Progmat ran on Corda until completing a migration to Avalanche last month. While MPMS and Progmat sit in different parts of the MUFG group, the overlap means MUFG has deep institutional familiarity with the technology underpinning GROW's platform. Article continues... Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.

MUFG Pension & Market Services has entered into a binding scheme implementation deed to acquire GROW Technology Services. The acquisition is subject to regulatory, shareholder and court approvals. MUFG said the proposed acquisition aligns with its vision to offer best-in-class solutions in pension and superannuation globally whilst strengthening its MUFG Retirement Solutions business division in Australia. MUFG Pension & Market Services chief executive Vivek Bhatia said the acquisition reflects the evolving superannuation industry and changing needs of funds for flexible administration and technology solutions. The acquisition would complement existing capabilities and technology platforms. HESTA, which switched its administration services to GROW Inc in June 2025, said it was pleased to support the proposed acquisition. Both organisations will continue operating on a business-as-usual basis during the approval process.