Blockchain Company SETL Hires City Heavyweights


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Sky News in the UK is reporting that a former deputy governor of the Bank of England and ex-head of the media regulator are joining a financial technology start-up SETL – which claims‎ it will revolutionise the global payments industry.

According to the UK news outlet, SETL will announce in the next few days that it has recruited former Deputy Governor of the Bank of England Rachel Lomax as well as former Chief Executive of Ofcom, former Senior Policy Advisor to Prime Ministers Tony Blair and Gordon Brown and Controller of Corporate Strategy at the BBC, Ed Richards to join it’s board.

They will join SETL’s chairman Sir David Walker, the former chairman of Barclays who also served as an executive director at the Bank of England.

Their appointments will add credibility to a company which has already demonstrated that it can process in excess of one billion transactions daily.


Sources said that SETL had also raised more than £20m from a consortium of shareholders, which include SETL’s users, although their identities are unlikely to be disclosed.

SETL’s founder has suggested that Blockchain would transform global payments in the same way that containers had revolutionised shipping.

Some of the world’s biggest banks and most prominent financiers are now committing significant resources to exploring the opportunities presented by Blockchain.

Walker said when his appointment was announced last December: 

“By simplifying the process of payments and settlement SETL should be able to deliver significant operational efficiencies which will benefit all market participants and, most importantly, reduce costs borne by savers and investors.”

In June, SETL launched its Blockchain-powered OpenCSD platform.

“The time has come to stop talking about the characteristics of Blockchain and to start realising its promise. Our OpenCSD platform will revolutionise the way securities depositories and payments systems are organised. A group of participants can now permission a working Blockchain platform in a matter of minutes and jointly record and settle changes in ownership. This will help bring competition into a segment of financial markets which has thus far been dominated by quasi-monopolistic incumbents,” said Peter Randall, CEO of SETL.


SETL Unleashes Real-time Blockchain Settlement For Securities Depositories and Payment Systems – Capital Markets

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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