SETL

A multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology.

In July 2015 SETL announced plans to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. The SETL system enables movement of cash and assets directly between market participants, facilitating the immediate and final settlement of market transactions. It maintains a permissioned distributed ledger of ownership and transaction records, simplifying the process of matching, settlement, custody, registration and transaction reporting. Capable of handling over 1bn transactions per day, the SETL system is designed to meet the needs of the finance industry and address concerns around the use of blockchain technology for financial markets. These include anonymity, which would present challenges to AML / KYC obligations of financial institutions, and the limited capacity and speed of current blockchains, which aren’t designed for financial transactions. A practical consequence of the SETL proposition is the reduction to a single process for interbank settlement and financial market transactions. SETL offers financial services firms significant cost cutting opportunities and improved liquidity management and capital utilization. The SETL management team comprises: Roolo founder Anthony Culligan - CEO; Chi-X founder Peter Randall - COO; Nicholas Pennington - CTO; Francois Barthelemy - Head of Corporate Strategy; Sir David Walker - Chairman.

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Name CEO: Anthony Culligan
Founded in: 2015
Country: United Kingdom
Website: SETL.IO
Company Twitter: @setl_io
Category: Blockchain / Bitcoin

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