28 June 2017
visit www.finastra.com

Deloitte invests in SETL

07 December 2016  |  9549 views  |  0 Check close up with pen

Deloitte has made an undisclosed investment in financial services blockchain outfit SETL.

News of the investment follows the announcement last month that Deloitte, SETL and Metro Bank had successfully trialed a contactless payment card using the firm's distributed ledger technology.

Launched in July 2015 to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology, SETL completed its first round of fundraising in the summer.

David Myers, head of capital markets at Deloitte, says of the new investment: “This investment demonstrates Deloitte’s commitment to help our clients build the future of financial services with emerging technologies. Blockchain has the ability to transform the industry, and we have been investing heavily in real-world applications, such as identity management, cross-border payments, loyalty, trade finance and a number of others."

Deloitte has bet big on distributed ledger, with funding for the technology taking a sizeable chunk out of the firm's £25 million Innovation Investments scheme. The firm is currently setting up an Emea financial services blockchain centre in Dublin that will house a team of 50 developers and designers and is working with five prominent blockchain companies - BlockCypher, Bloq, ConsenSys, Loyyal and the Stellar Development Foundation - on a wide-range of proof-of-concept applications across the financial sphere.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Metro Bank tests smartcard payments on the blockchain

Metro Bank tests smartcard payments on the blockchain

15 November 2016  |  12328 views  |  2 comments | 27 tweets | 37 linkedin
Not a prototype or POC; CobaltDL to deploy SETL ledger at live launch

Not a prototype or POC; CobaltDL to deploy SETL ledger at live launch

26 October 2016  |  5108 views  |  0 comments | 3 tweets | 3 linkedin
Blockchain to reinvigorate loyalty programmes - Deloitte

Blockchain to reinvigorate loyalty programmes - Deloitte

12 October 2016  |  8290 views  |  0 comments | 21 tweets | 12 linkedin
SETL launches OpenCSD platform to rewire post-trade processing

SETL launches OpenCSD platform to rewire post-trade processing

01 June 2016  |  5960 views  |  0 comments | 3 tweets | 10 linkedin
Deloitte launches financial services blockchain lab

Deloitte launches financial services blockchain lab

25 May 2016  |  12244 views  |  0 comments | 25 tweets | 13 linkedin
Deloitte UK calls for blockchain identity standards; Post-Trade group swells membership

Deloitte UK calls for blockchain identity standards; Post-Trade group swells membership

04 May 2016  |  11252 views  |  0 comments | 17 tweets | 16 linkedin
SETL and Computershare to apply blockchain tech to share ownership records

SETL and Computershare to apply blockchain tech to share ownership records

28 April 2016  |  6913 views  |  0 comments | 9 tweets | 7 linkedin
Financial services set for a fundamental shake-up - Deloitte

Financial services set for a fundamental shake-up - Deloitte

04 March 2016  |  24820 views  |  1 comments | 50 tweets | 54 linkedin
SETL commences fundraising; appoints former BofE exec Sir David Walker as chairman

SETL commences fundraising; appoints former BofE exec Sir David Walker as chairman

15 December 2015  |  4955 views  |  0 comments | 7 tweets | 2 linkedin
FIX sets up blockchain Working Group; SETL busts 1billion transactions per day

FIX sets up blockchain Working Group; SETL busts 1billion transactions per day

12 October 2015  |  8344 views  |  0 comments | 17 tweets | 12 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.events.sap.comvisit wavestone-advisors.co.ukvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
9137 views comments | 19 tweets | 37 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
8681 views comments | 10 tweets | 6 linkedin
hands typing furiouslyArtificial Intelligence- Computer to IOT
8496 views 0 | 4 tweets | 2 linkedin
hands typing furiouslyThe EU and blockchain: taking the lead?
7488 views 0 | 8 tweets | 7 linkedin
Asia still top dog for payments innovation but Europe gaining groundAsia still top dog for payments innovation...
7428 views comments | 10 tweets | 9 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job