SETL

London 15 February 2017: SETL, the financial blockchain specialist, today announced the opening of its Global Engineering Centre in Ipswich, UK. Ten new staff have been recruited to work in the new office and to support SETL’s international expansion, bringing SETL’s total worldwide workforce to 24. The centre was officially opened by Ben Gummer, Member of Parliament for Ipswich and Minister for the Cabinet Office and Paymaster General and by Chairman of the SETL board Sir David Walker.

The new team includes blockchain technology architects and specialists for server systems analysis, enterprise storage, web development, integration and project management. SETL operations in Ipswich will be overseen by CTO Nicholas Pennington. SETL joins more than 70 growing technology businesses specialising in areas from financial technology to telecommunications and big data that are based in the Ipswich area and form part of the New Anglia Local Enterprise Partnership for Norfolk and Suffolk.

SETL was launched in July 2015 to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. The SETL system will enable market participants to move cash and assets directly between each other, facilitating the immediate and final settlement of market transactions. The SETL system maintains a permissioned, distributed ledger of ownership and transaction records, simplifying the process of matching, settlement, custody, registration and transaction reporting.

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