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Bank of France’s former governor joins British blockchain startup’s board

Christian Noyer, a former governor of the French central bank, has joined the board of British blockchain startup Setl.

The firm, which launched in 2015 and has raised around £30m to date, already boasts a former deputy governor of the Bank of England and ex-Ofcom CEO as board members.

Setl’s blockchain platform allows users to transfer cash and assets between one another directly. The company claims that by operating on a distributed ledger it can simplify “the process of matching, settlement custody, registration and transaction reporting”.

“I am delighted to welcome Mr Noyer to the board and to thank our existing directors for their guidance and counsel over the past two years,” said Setl’s chairman Sir David Walker.

“Christian Noyer brings a wealth of experience in the financial, regulatory, economic management and central banking world. His contribution to the board process will be of significant benefit to the executive team, shareholders and stakeholders alike.”

Noyer added: “In the current environment, Setl’s technological leadership coupled with the deep experience of the team presents an unique and compelling proposition. I look forward to helping shape this extremely interesting initiative.”