Cobalt announces Beta Testing of FX Credit Platform

A foreign exchange software provider Cobalt has emitted a new low latency credit management platform
27 June 2018   644

As claimed in official statement today, the platform will diminish the risk for FX traders. It applies advanced technology to control credit and associated market access rules throughout the trade lifecycle in real-time. 

The service was created in order to overcome a credit shortage in the market. The number of credit providers has shrunk over the last few years as they go on suffering losses due to defaulting customers. This can mostly be explained by the fact that credit could not be found in real time and “the party with the credit risk is often the last to know.” The new service suggests central real-time credit management as a way to overcome this problem.

Cobalt guarantees a messaging speed of over one hundred via messages per second, that is possible because it is placed geographically close to major execution venues. It can handle customer reactions to unpredictable events because “it can be pushed dynamically to clients and trading venues in real-time.” This is important because such developments can cause millions of dollars to be lost.

Electronic trading has evolved beyond recognition over recent years, and it’s now critical that credit management catches up. Centralised low latency credit management is the future for the global FX markets and we look forward to leading the charge in creating a more efficient, orderly future for all participants.
Andy Coyne,
Co-Founder, CEO, Cobalt

Cobalt is a firm that applies distributed ledger technology for foreign exchange trading to become more secure and streamlined. Cobalt BlueSky is one product that it offers. It notarizes, encrypts and securely stores foreign exchange contracts. The new platform is presently being beta tested and should be acceptable later this year.

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   103

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.