A European fintech consortium has announced the establishment of a new startup for a post-trading blockchain infrastructure for the small and medium enterprise (SME) market.
The new European fintech venture LiquidShare has been launched by BNP Paribas, CACEIS, Caisse des Dépôts, Euroclear, Euronext, S2iEM and Société Générale with the support of Paris EUROPLAC.
In June 2016, the shareholders of the new startup launched a partnership to develop to develop a post-trading infrastructure based on distributed ledger technology for SMEs.
The main objective of LiquidShare is to improve SME’s access to capital markets, improving the transparency and security of post-trading operations using blockchain.
LiquidShare will receive financial support from its shareholders to develop and operate a post-trading infrastructure for SMEs.
Its solution is expected to result in reducing transaction costs for SMEs.
To be set up shortly in a Parisian incubator, LiquidShare will employ various profiles to implement the platform.
Thibaud de Maintenant, who is named as the chief executive officer of LiquidShare, said: “With the launch of LiquidShare, we will use the great potential of the blockchain technology to become a key player in the post-trade industry.
“Supported by shareholders across the European financial market ecosystem, this initiative is the first of its kind.”
LiquidShare will harnesses blockchain technology comprising of a virtual ledger that assembles data for shared distribution between many different users.
The technology has the potential to simplify the chain of post-trade operations, guaranteeing and facilitating the consolidation of securities registers.
Image: LiquidShare will receive financial support from its shareholders. Photo: courtesy of stockimages/Freedigitalphotos.net.