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
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Tech and data
Analyse this: why the buy side is hungry for FX trade data
TCA data from vendors is just the start as buy-side firms enlist quants to analyse execution
BNPP, NatWest turn to CobaltFX for credit limit management
The service will help the two banks rein in risks of credit overallocation on interbank platforms
What’s the right price limit for an algo?
BestX assesses the different impacts a price limit can have on FX algo performance
LSEG’s FXall to open access for banks’ NDF algos
Move tipped to help smooth buy-side adoption of algo execution for non-deliverable forwards
Wheels on fire: automated algo selection takes off in FX
Embrace of workflow automation and data analytics is driving asset managers’ adoption of FX algo wheels
Fenics’ Kace launches FX options OMS
The system will help regional banks tap white-labelled liquidity from a single access point
Dealers eye benefits of ‘on-chain’ FX
Automated market-makers are already used for EUR/USD trades – now can they tackle settlement risk?
Blockchain startup Symbiont files for bankruptcy
Clients included American Century, Citi, Franklin Templeton, State Street and Vanguard