VALK has joined the BT Radianz Cloud to extend the availability of its Corda based distributed ledger technology (DLT) network to Radianz community members, enabling them to access the Corda network and to leverage a wide range of additional applications underpinning this leading open-source blockchain platform.
The Radianz Cloud gives brokers, institutions, exchanges, clearing, and settlement houses secure access to thousands of applications from hundreds of specialist applications and service providers critical to the operation of global financial markets. VALK provides software that digitizes the management, investment, and trading of unlisted assets.
Antoine Loth and Elie Azzi, founders of VALK, commented: “We are delighted to join the BT Radianz Cloud to deliver the first Corda-based application to integrate with its infrastructure. It enables us to offer our services directly to a large number of institutional clients via a secure private network.”
Michael Woodman, Managing Director, Radianz, BT, said: “DLT has seen a significant surge in interest among our clients, with an increasing number of firms leveraging it for real-life applications or R&D activities. Enabling access to Corda blockchain nodes via VALK’s platform will create new opportunities for our institutional clients to capitalize on the significant potential DLT presents.”
VALK has recently partnered with Koine, a post-trade solutions specialist, to offer its clients custody and settlement services linked with R3’s Corda technology in its platform. Valk has launched white-label service targeting the financial services sector which has centralized and automated asset management and investment workflows. The firm claims it reduces processing time by 80% and costs associated with such activities are reduced by 50%.
BT Radianz cloud has been integrating much of the cryptocurrency ecosystem. In late 2019, the cloud community-integrated Crypto Compare’s digital asset data to boast full market data offering including reference rates, trade, and order book data across more than 150,000 cryptocurrency trading pairs.
In March 2019, Gemini Trust LLC, the New York-based cryptocurrency exchange and custodian led by the Winklevoss twins joined the BT Radianz Cloud in order to tap its global market reach and ability to scale with a commercial structure familiar to large institutions. By joining the network, Gemini became able to reach a vast number of participants looking to enter the cryptocurrency market.