U.K.-based settlement infrastructure provider Setl has been granted a license from France's securities regulator to operate a central securities depository system using blockchain tech.
With the license from the Autorité des Marchés Financiers now in place, according to a report from the FT on Tuesday, the company will be able to plug into TARGET2-Securities (T2S) – a pan-European system recently set up to unite the previously fragmented European securities settlement infrastructure.
Approval to join T2S is expected to be issued in the next few weeks, the FT says, with Setl's securities depository slated for launch early next year.