Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news

Breaking-Finance.Com - Standard Chartered has invested in foreign exchange (FX) post-trade infrastructure provider Cobalt, joining Citi as the second client-side backer of the blockchain-based network.

Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news

Breaking-Finance.Com - Standard Chartered has invested in foreign exchange (FX) post-trade infrastructure provider Cobalt, joining Citi as the second client-side backer of the blockchain-based network.

Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news
23 July 2020 - 08:40

Breaking-Finance.Com - Standard Chartered has invested in foreign exchange (FX) post-trade infrastructure provider Cobalt, joining Citi as the second client-side backer of the blockchain-based network. The investment comes after Standard Chartered signed up to use the Cobalt infrastructure in February, with the bank billing the platform as a core part of its FX operations.By creating a single version of a trade and checking credit in real-time Cobalt allows for dynamic credit allocation across clients and counterparties, cutting operational costs and reducing credit, settlement and operational risk.

. Gareth James, macro COO from Standard Chartered, comments: “We see Cobalt as being a core part of our FX operating platform, enabling Standard Chartered to reduce risk and costs by automating manual processes across the bank and therefore improving services to our clients. This investment shows our confidence in the platform and we look forward to continuing to grow our relationship with Cobalt.”

Source = Breaking-Finance.Com

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Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news


Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news


Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news


Finance Breaking news Standard Chartered invests in post-trade FX platform Cobalt last financial news

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