Cobalt, a London, UK and NYC -based FX post-trade processing network based on shared ledger technology, received an invesment from Henry Ritchotte.
The amount of the deal was not disclosed.
Henry Ritchotte, who also joined as Strategic Advisor, spent over two decades at Deutsche Bank where he was a member of the Management Board and Group Executive Committee acting as Chief Operating Officer and Chief Digital Officer. Since leaving the bank at the end of 2016 he established RitMir Ventures, a principal investment firm focused on investing in products and services transforming finance through disruptive regulatory and technology driven business models.
Led by Adrian Patten, Co-Founder, Cobalt delivers a private peer-to-peer network that reduces post-trade costs and risk for institutions operating in today’s FX markets. The platform is designed to create a single, shared view of a transaction on shared infrastructure and allows clients to reduce reconciliation and operational costs.
With its production beta now live, Cobalt is ramping up to launch its live platform later this year.