Cobalt

Founded in 2015 by Adrian Patten and Andy Coyne, Cobalt was established to re-engineer foreign exchange post-trade processing. By leveraging low-latency technology, the company created a shared platform that provides a single, immutable record for all parties in an FX transaction, aiming to significantly reduce credit, operational, and settlement risk, as well as post-trade costs for financial institutions. In April 2022, Cobalt was acquired by the London-based capital markets technology platform United Fintech and now operates as an integrated product within their portfolio.