The finance industry has invested more than $1 bn in distributed ledger tech since 2015
The former chief executive officer of
Icap's post-trade firm Traiana has started testing a new
foreign exchange blockchain platform, at the helm of technology
firm Cobalt DL.
Tech firm Cobalt has begun beta testing of
its distributed ledger platform for FX with a number of foreign
exchange participants on its private peer-to-peer network,
ahead of plans to launch in 2017.
Andy Coyne, chief executive and co-founder
of Cobalt DL, and former CEO of Traiana, said Wednesday; "The
emergence of agile, sophisticated technology such as
distributed ledgers has set the scene for an alternative to the
inflexible post-trade infrastructure that financial market
participants are forced to use today. Cobalt DL’s
combination of market expertise and forward-thinking technology
is dramatically shaking up the post-trade space and
significantly reducing costs for market participants,"
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