Congrats to Axoni, a new company backed by FinTech Collective's portfolio company Tradeblock, on successfully completing a proof-of-concept with Icap. The POC involved testing Axoni's best-in-class private distributed ledger technology on the implementation of smart contracts for post trade transactions. This is a massive step for Axoni and distributed ledger technology in general, as capital markets dealers will now be able to reduce operational risk and costs. So excited to see how Axoni will be the game changer for post trade operations!
“In successfully completing a proof of technology test, Icap has demonstrated one of the first real world applications of distributed ledger technology that has the ability to significantly transform the post trade landscape,£ he says. "Realising the value of Icap’s unique portfolio of PTRI businesses and investee companies, we have combined our expertise, networks and technology with Axoni’s distributed ledger technology to push the boundaries of post trade innovation.