Cobalt, the FX post-trade processing network based on shared ledger technology, has joined the BT Radianz Cloud. Members can now access Cobalt’s private peer-to-peer and blockchain services, helping firms reduce cost and operational risk.
By joining the Radianz Cloud community, Cobalt gains global connectivity to thousands of financial services institutions as well as access to BT Radianz Hosting services. Radianz Hosting delivers managed hosting services available from more than twenty data centres located in key cities where significant clusters of capital market organisations are present.
Adrian Patten, co-founder of Cobalt, said: “We recognise that using innovative technologies is key to making a cost-effective shared infrastructure a reality. It’s vital that the infrastructure used by institutions is secure and enterprise grade. We are delighted to be working with BT to make sure that Cobalt leads the pack in terms of these requirements.”
David Payne, Managing Director of BT Radianz said: “Entrepreneurial fintechs like Cobalt are a growing source of innovation in the financial markets industry. By offering their services via the BT Radianz Cloud, they gain access to a ready-made market place and a commercial structure that helps them address the stringent contractual and compliance expectations of financial institutions. We’re delighted to welcome Colbalt into our cloud community.”
The Radianz Cloud links a community of thousands of brokers, institutions, exchanges and clearing and settlement houses.