Three-year-old blockchain bond solution LedgerEdge has been shut down according to the co-founder and controlling shareholder David Rutter, as first reported by The Desk. Rutter is also the co-founder and CEO of enterprise blockchain firm R3.
In 2015 he started another company LiquidityEdge which built a digital trading ecosystem for the US Treasuries market. Four years later he sold it to MarketAxess for $150 million. The following year, 2020, Rutter decided to target the corporate bond market and hence founded LedgerEdge.
The rationale behind the startup was to enable buy and sell-side firms to share pre-trade data on a peer-to-peer basis, giving users control over their own data. With many other platforms sell side firms upload their pricing data and the trading platform then owns it, selling it, including back to the trader.
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