London-based blockchain startup SETL has announced that Citi and Credit Agricole have joined Computershare, S2iEM, and Deloitte as shareholders in the company.
In addition to Citi and Credit Agricole taking stakes in the company, Computershare has increased its investment and Stuart Irving, Group CEO of Computershare, has joined SETL’s board.
“I am delighted to welcome Mr Irving to the board and to thank our existing directors for their guidance and counsel over the past two years. Stuart Irving bring a wealth of experience in the financial, regulatory, IT and public company spheres. His contribution to the board process will be of significant benefit to the executive team and shareholders and stakeholders alike,” SETL’s Chairman, Sir David Walker, said.
Launched in July 2015, SETL aims to deploy a multi-asset, multi-currency institutional 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. It maintains a permissioned distributed ledger of ownership and transaction records, simplifying the process of matching, settlement, custody, registration and transaction reporting.
“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,” Peter Randall, CEO of SETL, said. “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."
