Delta Capita is launching a distributed ledger venture by acquiring the capital markets business of blockchain firm SETL and partnering with Montis Group as an anchor client and minority investor.
Montis, a subsidiary of Archax, is utilizing blockchain technology to develop a central securities depository service that will facilitate the settlement of tokenized assets in debt and equity markets. Scheduled to go live in Q4, this CSD infrastructure is designed to be blockchain agnostic, connecting issuers, exchanges, trading venues, and market participants around the globe.
Joe Channer, CEO of Delta Capita, stated, “Asset tokenization in regulated markets powered by distributed ledger technology has the potential to drive significant new revenues, capital efficiencies, and operational cost reductions across our key clients in capital markets. Delta Capita Distributed Ledger Services represents our strategic intent to be at the forefront of this exciting chapter in capital markets and technology innovation. We are thrilled to acquire SETL’s Capital Markets business and partner with Montis to realize our shared vision for asset tokenization.”
SETL, launched in 2015, played a pivotal role in early attempts to implement blockchain technology in the investment funds market. The firm was involved in a collaboration with the French fund management platform IZNES and blockchain-based central securities depository ID2S to establish a post-trade structure based on distributed ledger technology (DLT).
Although ID2S closed down in 2021, SETL entered administration in 2019 and was later acquired by Turkey-based fintech Colendi in June of the preceding year.