Finteum, the London-based blockchain startup that aims to help bank treasury departments reduce their intraday liquidity requirements, has raised a £1.3 million ($1.5m) seed round from SuperSeed.
Several high profile banks have been involved in Finteum DLT trials, including Barclays, BNY Mellon, Citi, Deutsche Bank and Natwest.
To date, stringent Basel III requirements for banks to hold liquid assets have existed during a benign interest rate environment. As rates rise, banks are keen to optimize the use of their liquidity.
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