Cobalt enters beta-testing phase with DL platform
Post-trade venue expected to go live in 2017, with eight institutions already signed up
Financial technology start-up Cobalt DL has entered the beta-testing phase as it gears up for launch in 2017, with eight institutional market participants committed to the service that uses distributed ledger technology for post-trade processes.
The private peer-to-peer network aims to cut "billions of dollars" in costs that participants face due to the highly resource- and work-intensive post-trade processes, many of which rely on antiquated and legacy technology.
"From a single transaction
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