Another group of executives from the traditional financial system has transferred to the blockchain industry, FN magazine reported on Tuesday. Edward Budd and Julio Faura, who had worked as technological innovation managers at Deutsche Bank (DE:) and Santander (MC:), have launched a crypto company called Adhera this summer.
The joint project targets emerging banks that need help to manage their daily treasury positions because they must convert transactions in various currencies. Currently, the company works in the United Kingdom, Spain, and South Africa, but also wants to focus in Asian, African, and Latin American states where banks have more internal reconciliation problems.
“If you have a limited amount of visibility for that position during the day then you necessari…
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