Credit Agricole-Backed Blockchain Startup Setl Files for Insolvency in the UK

Setl, a Credit Agricole-backed blockchain startup based out of the United Kingdom, has filed for insolvency. The insolvency notice was filed on March 7 with U.K. authorities.

Credit Agricole is reportedly the world’s largest cooperative financial institution, headquartered in France.

Setl was founded by Peter Randall, one of the founders and former CEO of the alternative European stock exchange Chi-X, and Anthony Culligan, founder of peer-to-peer Bitcoin (BTC) trading venue Roolo, in July 2015. The company was granted approval from the French securities regulator to run a Central Securities Depository (CSD) in October last year.

As Cointelegraph reported in January, Setl has hired former governor of the French central bank Christian Noyer as a member of its board of directors. Still, in a statement released today, the