Baton rounds out funding with $4m Illuminate investment

DLT firm plans Asia expansion due to demand for delivery of assets in Asian and non-CLS settled currencies

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Investing for growth: Baton wanted a VC firm with expertise and networks in capital markets tech

Venture capital (VC) firm Illuminate Financial has made a $4 million investment in Baton Systems, rounding out the start-up’s $16 million funding total, which the fintech will use to expand geographically.

Last year, FX Week reported that Nex Group and Baton Systems have built a real-time settlement system for foreign exchange trades, using distributed ledger technology (DLT) to cut the traditional two-day post-trade cycle down to as little as three minutes.

Baton has already received

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