LedgerEdge selects Yaala Labs to boost DLT solution launch
By Megha Bhattacharya
LedgerEdge, an ecosystem for corporate bond trading, today announced the selection of capital markets infrastructure provider Yaala Labs to support its technology delivery. The collaboration is expected to further LedgerEdge’s mission of rolling out a global corporate bond trading venue built on distributed ledger technology, expected in the second half of 2021.
According to LedgerEdge, the partnership is expected to deliver a scalable digital ledger technology solution that aims to unlock liquidity in the corporate bond market. The solution includes a distributed order book and smart search functionality, which will enable users to conditionally see and share liquidity and will support a fundamentally better trading experience.
David Nicol, CEO of LedgerEdge said, “As LedgerEdge moves toward our launch this year, we are excited to announce our technology partner in Yaala Labs. They have extensive, highly relevant experience in the capital markets designing and building enterprise-grade software for trading platforms. The entire team at Yaala Labs has demonstrated their fundamental understanding of our needs as well as the agility and technological know-how for developing DLT architecture for the corporate bond market. We look forward to continuing our work with Yaala Labs as we build and deploy a next-generation ecosystem for corporate bond trading.”
The company stated that its distributed order book will be supported by Corda Enterprise. Yaala Labs will be responsible for the creation of a customised solution for the company using both Corda Enterprise and its blockchain-enabled exchange platform P8.
Lalin Dias, CEO of Yaala Labs added, “We are excited to be supporting this innovative project with our market infrastructure technology platform P8. We founded Yaala Labs to build the next generation of capital markets infrastructure and help markets take advantage of cloud, blockchain and machine learning technologies. We look forward to working with the great team at LedgerEdge to launch and grow this visionary new ecosystem for the corporate bond market.”
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