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

invest - growth - Getty.jpg
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

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 copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: