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EquiChain, a London-based fintech startup, has unveiled a working prototype for a blockchain-powered solution for capital markets, which promises to drive market efficiency and improve global investor access in emerging and frontier markets, according to NASDAQ. The company plans to implement a full end-to-end "execution to custody," pilot in 2017.
Founded in 2015 by CEO Nicholas Bone, a former banker who has served at the Bank of England, Deutsche Bank, BNY Mellon and most recently Standard Chartered PLC, EquiChain is building a global capital markets infrastructure platform.
By leveraging blockchain technology, EquiChain's patent-pending solution enables the direct interaction and exchange of value between incumbent market participants without the current need for multiple touchpoints and the inefficient interaction of different systems. It further creates a verifiable, transparent and immutable flow of information, enabling the streamlining of market processes.
"The current securities transaction lifecycle is complex, costly, time-consuming and fraught with risk," Bone said in a statement. "EquiChain will use distributed ledger technology to redefine securities transaction flows creating a full 'execution to custody' capability. EquiChain's core platform is an independent, flexible foundational technology that allows incumbent market participants to redefine their roles in the industry. [It] will catalyze industry collaboration to define a new capital markets operating model."