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Saphyre won ‘ Fintech of the Year ’ at the Global Custodian Leaders in Custody awards in May 2023
105
Recognised patents
2017
Year founded in US
US $ 18.7m
Series A funding
70-75 %
Amount of post-trade work Saphyre can eliminate
This is not representative of the entire industry of course , but it does highlight how Saphyre ’ s strategic relationships like FXall are using the platform to harness an entirely new approach .
Announced in February , the strategic alliance between Saphyre and the London Stock Exchange Group ’ s ( LSEG ) FXall business aims to digitise account onboarding for FXall clients through Saphyre ’ s AI technology .
“ In the old days , you ' d have to call up the banks to get the currency rates for different currencies ,” says Gabino . “ A platform like FXall actually draws from multiple liquidity providers to give you the best price . This is significant as it proves that Saphyre is now directly linked to trading activities , which is the breadwinning side of the business for a lot of financial institutions .”
Since that announcement , a growing number of other EMS platforms have started new formal discussions with Saphyre . Saphyre ’ s ability to serve multiple asset classes brings another valueadd to its clients that was previously unmet .
Traditionally , many platforms are exclusively focused on certain asset classes . If a firm wants to do a certain type of trading and processing , you have to use certain solutions associated with that asset class – creating a messy network of multiple platforms within a firm ’ s framework .
12 saphyre . com