SETL has appointed Christian Noyer to its board of directors of SETL Development.
Noyer is the former governor of the Banque De France.
SETL was launched in July 2015 to deploy a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology.
The SETL system enables market participants to move cash and assets directly between each other, facilitating the immediate and final settlement of market transactions.
The system maintains a permissioned distributed ledger of ownership and transaction records, simplifying the process of matching, settlement, custody, registration and transaction reporting.
Sir David Walker, SETL’s chairman, said: “I am delighted to welcome Christian Noyer to the board and to thank our existing directors for their guidance and counsel over the past two years.”
He added: “Christian Noyer brings a wealth of experience in the financial, regulatory, economic management and central banking world. His contribution to the board process will be of significant benefit to the executive team, shareholders and stakeholders alike.”
Commenting on his new role, Noyer said, "In the current environment, SETL’s technological leadership coupled with the deep experience of the team presents a unique and compelling proposition. I look forward to helping shape this extremely interesting initiative."
Philippe Morel, CEO of SETL, commented: “The appointment of Christian Noyer as a director will assist SETL in many ways.”
He added: “We do not underestimate the challenges of re-tooling some of the most fundamental elements of our financial infrastructure but the benefits of doing so are significant and widespread. We are strongly positioned to commence that transformation and look forward to making further announcements shortly.”
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