SETL welcomes new shareholders and new board member
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SETL welcomes new shareholders and new board member 20 February 2018London Reporter: Jenna Lomax
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Citi and Credit Agricole have both taken stakes in SETL, while Computershare has also increased their investment in the payment and settlement infrastructure provider.
Stuart Irving, group CEO of Computershare, has joined the SETL board.
SETL was launched in July 2015 to deploy a payment and settlements infrastructure based on blockchain technology.
The SETL system enables market participants to move cash and assets directly between each other, facilitating the immediate and final settlement of market transactions.
According to SETL, the system simplifies the process of matching, settlement, custody, registration and transaction reporting.
Irving said: “Computershare is convinced that the future of building systems that record ownership depends on them having provability at their core; and that this feature of the SETL offering is a significant competitive differentiator.”
Peter Randall, CEO of SETL, added: “We are pleased to announce that we have extended our shareholder register with both new and existing partners and have agreed the scope of a number of revenue generating projects.”
He added: “We are unique in having both a financial grade product and a proven deployment route. SETL has successfully deployed multiple environments capable of processing in excess of 80,000 transactions per second across real world, globally distributed networks with over 100 million concurrent accounts.”
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