First Derivatives Invests in Cobalt DL FX Post-Trade Processing Blockchain

[kreslik.news]

Cobalt DL, a fintech startup co-founded by former Traiana CEO Andrew Coyne and former Mako FX owner Adrian Patten, has commenced beta testing with a private peer-to-peer network that uses distributed ledger (blockchain technology) to significantly cut post-trade cost and risk.

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The Cobalt DL team says that after a year of design and testing and following a successful completion of a proof-of-concept with one of the largest FX market making banks, the platform will launch in 2017, with eight institutional FX participants already committed to the service.

They explain that from a single ... (read more)