LedgerEdge announced it’s selected Yaala Labs, a provider of cloud-native capital markets infrastructure, to support its technology delivery. The partnership will enable LedgerEdge to launch a global corporate bond trading venue built on distributed ledger technology, expected in the second half of 2021.
LedgerEdge was founded in 2020 to create a new ecosystem where participants can trade with conviction and clarity, addressing the core liquidity problem in the $41 trillion corporate bond market. Yaala Labs, founded by the team who previously led London Stock Exchange Group’s capital markets infrastructure technology business, will be providing a cloud-native, blockchain-enabled, agile solution for the future of the corporate bond market.
The partnership will deliver an institutional grade, cutting edge and scalable digital ledger technology solution that aims to unlock liquidity in the corporate bond market. The solution includes a distributed order book and smart search functionality, which will enable users to conditionally see and share liquidity and will support a fundamentally better trading experience.
LedgerEdge’s distributed order book will be supported by Corda Enterprise, a distributed ledger technology platform that enables businesses to transact directly and in strict privacy with one another using smart contracts. Yaala Labs will create a tailor-made solution for LedgerEdge using both Corda Enterprise and P8, its cloud-native and blockchain-enabled exchange platform, and Yaala CEO, Lalin Dias, said in a statement that the firm was founded to “build the next generation of capital markets infrastructure and help markets take advantage of cloud, blockchain and machine learning technologies”.
David Nicol, CEO of LedgerEdge, said in a statement: “The entire team at Yaala Labs has demonstrated their fundamental understanding of our needs as well as the agility and technological know-how for developing DLT architecture for the corporate bond market.”