SETL Labs will allow product and process ideas to be tested in a rapid prototyping environment and at the same time exposing them to the first principles of innovating with industrial grade blockchain technology. SETL Labs will be supported by a set of comprehensive documentation, user guides and an instance of the SETL blockchain, with APIs and example use cases.

SETL Labs offers access to the core SETL product suite which underpins the live market infrastructures that are powered by SETL today. This will ensure any prototyping carried out with SETL labs can migrate into a scalable production environment, when the client wishes to go live.

SETL Labs clients may test their blockchain hypotheses using SETL Labs’ easy to configure environment, in which trials can be conducted and results co-related as stage one in a rapid prototyping environment.

Dr Joshua Daniel, Head of Product Strategy at SETL, said: “This initiative draws upon our close customer engagements and our understanding of both financial markets and technology. As a consequence of platform evolution and technology stability, there is no better time to expose the SETL capabilities to a wider audience in an accessible manner.”

Upon registration, clients of SETL Labs can participate in a sandbox network that carries an instance of a SETL blockchain with user friendly interfaces along with detailed documentation.

For a quick start, scenarios with step-by-step guides have been developed to allow easy access to the live blockchain:

How to issue and transfer ownership of assets
Construct and carry out simultaneous Delivery-vs-Payment (DvP) routines
Progress onto constructing multi-lateral DvP, Payment-vs-Payment (PvP) and Free-of-Payment (FoP) routines
Develop and operate single and multi-asset clearing chains
Import and export current workflow outputs by using SETL Connect which allows for both GUI and API instructions.

Peter Randall, President at SETL, said: “With SETL Labs, we hope to share our experience and learning in the financial blockchain space with the wider community. The SETL Labs initiative is another step in our commitment to help bring 21st century solutions into financial services market. I am very excited and look forward to helping the innovators to bring their ideas to life with SETL Labs.”

SETL is excited by the opportunity to bring Labs openly to the market and is keenly looking forward to seeing the technology bring purposeful innovation to the world of financial markets.