SETL the London-based blockchain firm that’s behind IZNES the French platform for trading investment funds, has emerged from administration, the UK insolvency procedure. In March the company voluntarily sought
protection from its creditors. A new company SETL Ltd has bought the assets and IP from the previous firm SETL Development Ltd which is being wound down.
The new company will continue to support the existing clients. The company says it plans to offer blockchain-based solutions across a broad range of use cases in partnership with existing financial services providers. Hence it no longer intends to be a regulated entity.
It is believed that its interests in IZNES and central security depositary ID2S are being sold and the net proceeds will contribute to the new company’s capital. ID2S is a joint venture with French telecoms company Orange.
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Image Copyright: SETL
