Citi Invests in Blockchain FX Trading Firm Cobalt DL
Citi has invested in Cobalt DL, an FX post-trade processing network based on distributed ledger technology. Citi is also a client for the Cobalt FX post-trade solution. Cobalt DL has begun a beta test for its private peer-to-peer network that uses distributed ledger technology (also known as blockchain technology) designed to reduce risk and cut post-trade costs by up to 80 percent. Cobalt DL’s FX solution is set to launch in 2017, with 15 institutional participants committed to using the service. Cobalt DL designed the technology to integrate seamlessly with all trading sources and....
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