After recently signing up to Cobalt’s FX post-trade platform, Standard Chartered has now made an investment in the technology provider.
Cobalt has confirmed that Standard Chartered is the latest institution to automate FX post-trade processes using its shared ledger platform.
Cobalt brings in Sucden Financial, following other major institutions like Citi, Deutsche Bank, XTX Markets and Saxo Bank.
Shared ledger technology provider Cobalt gained a strategic investment from early supporter Citi in 2016.
Cobalt has added five professionals to its team, including the former director of FX trading at UBS.
Cobalt and IHS Markit have teamed up to produce post-trade services for FX using blockchain technology.
FX post-trade blockchain network Cobalt has launched its service on the BT Radianz Cloud.
Investment from SGX will further technology development of Cobalt post-trade processing network for FX.
Cobalt's post-trade service now has 22 beta partners and the firm has expanded with a new office in New York.