The network will use blockchain concepts like encryption and digital signatures to create the unified system. Blockchain is a type of distributed database that is being touted as a way to upend the financial industry.
Cobalt already has eight institutional FX participants signed on to use the system. The announcement comes 18 months after Coyne left Traiana, which was owned by ICAP, an independent brokerage company that provides a similar system.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now