Cobalt to Host its FX Blockchain Service on BT Radianz Cloud
- The firm claims it can “reduce risk and post-trade costs by up to 80% to FX participants.”

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term continues to prove that it may actually be a real thing and not just an annoying buzzword. This Tuesday, Cobalt, a provider of blockchain solutions for the FX industry, announced that it was partnering with BT Radianz.
The new deal will see Cobalt connecting to two important data centers, Equinix NY4 in New York and LD4 in London. This will mean Cobalt’s services are offered separately in the US and the UK.
What, I hear you ask, is this service? As with many blockchain service providers, Cobalt offers a lot of lingo but, perhaps uniquely, they also provide some substance. The firm claims it can “reduce risk and post-trade costs by up to 80% to FX participants.”
The firm states that it does this by reducing the number of trade records. Instead of each party receiving multiple records from a trade, a single, unchangeable record for each trade is created.
Cobalt blockchain
Currently, the firm’s offering is only being used by a single tier-one bank. That number is almost certain to grow, however, as a result of the new partnership with BT Radianz.

Cobalt will be joining these companies as it starts to host its systems on BT Radianz's cloud. The goal of this clear, the firm wants to expand its institutional client base.
Adrian Patten, a Cobalt co-founder, confirmed this end goal, saying of the deal: “This will give Cobalt the scale and reach it needs on tap, backed by BT’s experience and capability of delivering solutions to large financial services organisations. It’s an ideal platform for growth and will help us achieve our aim of revolutionising the post-trade space in the biggest financial market in the world.”
Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term continues to prove that it may actually be a real thing and not just an annoying buzzword. This Tuesday, Cobalt, a provider of blockchain solutions for the FX industry, announced that it was partnering with BT Radianz.
The new deal will see Cobalt connecting to two important data centers, Equinix NY4 in New York and LD4 in London. This will mean Cobalt’s services are offered separately in the US and the UK.
What, I hear you ask, is this service? As with many blockchain service providers, Cobalt offers a lot of lingo but, perhaps uniquely, they also provide some substance. The firm claims it can “reduce risk and post-trade costs by up to 80% to FX participants.”
The firm states that it does this by reducing the number of trade records. Instead of each party receiving multiple records from a trade, a single, unchangeable record for each trade is created.
Cobalt blockchain
Currently, the firm’s offering is only being used by a single tier-one bank. That number is almost certain to grow, however, as a result of the new partnership with BT Radianz.

Cobalt will be joining these companies as it starts to host its systems on BT Radianz's cloud. The goal of this clear, the firm wants to expand its institutional client base.
Adrian Patten, a Cobalt co-founder, confirmed this end goal, saying of the deal: “This will give Cobalt the scale and reach it needs on tap, backed by BT’s experience and capability of delivering solutions to large financial services organisations. It’s an ideal platform for growth and will help us achieve our aim of revolutionising the post-trade space in the biggest financial market in the world.”