Citi group, the financial services company, has bought a stake in blockchain startup SETL.

This comes just a few weeks after we saw a similar minority stake acquisition in SETL by Credit Agricole. Citi joins a list of investors that includes Computershare, Deloitte, and banking company S2iEM.

Computershare took a larger stake in the blockchain startup, and Stuart Irving, Computershare’s group CEO, will be joining its board of directors. SETL’s chairman, Sir David Walker, said that, combined, it was “adding significantly to the strength [of] the company.”

Read more: Crédit Agricole CIB dips into fintech with investment in blockchain payments platform SETL

“We are pleased to announce that we have extended our shareholder register with both new and existing partners and have agreed the scope of a number of revenue generating projects,” Peter Randall, SETL’s CEO, said of the investments.

SETL is a an OpenCSD payment and settlement infrastructure provider which uses blockchain technology.

Last year, SETL opened up an office in Paris, aiming to mitigate the impact of Brexit.

by Henry Vilar
Henry is Junior Reporter at IBS Intelligence, follow him on Twitter or contact him at: henryv@ibsintelligence.com
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