Cobalt joins BT Radianz Cloud to allow organizations to access P2P, blockchain services
Cobalt, a post-trade processing network built on blockchain technology, recently joined the BT Radianz Cloud, a financial community. Organizations on the cloud can now access Cobalt's blockchain and peer-to-peer services, according to a press release.
Cobalt's platform uses encryption, digital signatures and consensus to create immutable trade records that eliminate cost and complexity from post-trade processing, the release said. The company also creates a shared view of trade data to help free up middle office resources.
"Entrepreneurial fintechs like Cobalt are a growing source of innovation in the financial markets industry," Radianz Managing Director David Payne said in the release. "By offering their services via the BT Radianz Cloud, they gain access to a ready-made marketplace and a commercial structure that helps them address the stringent contractual and compliance expectations of financial institutions. We're delighted to welcome Colbalt into our cloud community."