Cobalt signs up to BT Radianz Cloud

Cobalt will provide its blockchain services to members of the BT Radianz Cloud network.

Blockchain technology provider Cobalt has joined BT Radianz Cloud meaning firms who are part of the community can access its services.

By joining the Radianz Cloud network, Cobalt will gain access to thousands of financial services institutions looking to use blockchain as a means of reducing costs from post-trade processes.

Adrian Patten, co-founder of Cobalt, explained using innovative technologies is needed to make 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,” he said.

David Payne, managing director of Radianz at BT, added FinTech firms like Cobalt are a growing source of innovation in the financial markets industry.

The BT Radianz Cloud links a community of thousands of brokers, institutions, exchanges and clearing and settlement houses through a single connection.

Members can access thousands of applications and services from more than 400 providers using the global network.