Caxton has done this by attaching a private blockchain overlay to its banking platform. This will allow clients to directly access its preferential banking rates and existing regulatory arrangements. This will dramatically reduce their servicing costs and increase their speed to market with new products and services.

The offer will be particularly helpful to e-commerce businesses looking to execute payments in multiple currencies, app developers in need of a regulated partner to handle their transactions, or a bank that needs an out-of the box multicurrency bank platform.

Rupert Lee-Browne, founder and CEO, Caxton, said: “There’s so much talk in the industry about the benefits of blockchain, but so little of it is accessible to businesses today. It seems that you’ve either got to trust in cryptocurrencies or wait until a mega-deal is struck between the major banks. Both of which could take decades to come into fruition.

Therefore we’re incredibly excited to offer our clients the opportunity to plug into our multi-currency banking system directly via a private blockchain.”

Russell Stather, CTO, Caxton, said: “This offer will be particularly exciting for our client’s CTOs. This technology strips out the need for an API, meaning everything is under their control. There’s no need for them to waste time and money, installing and maintaining an API.”