xalts, a financial infrastructure platform for institutions has acquired Contour, a global network of banks, corporates and trade partners working together to revolutionise the trade finance industry.
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As the ecosystem expands, Xalts will be able to provide its digital processing platform to each of these participants as well as to new ones. Contour is building the world’s open trade finance network. By focusing on collaboration and leveraging new technologies, we are dissolving the barriers to seamless trade. Our networks of banks, corporates, services and partnerships enable the instant flow of trusted data across the world’s trade routes and current fragmented ecosystems.
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“This will offer financial institutions and clients the opportunity to tap into a growing ecosystem of providers,” explains Ashutosh Goel, CEO of Xalts. “Our vision is to expand the scope of Contour’s network, which is already trusted by banks and corporates, and build it into a rail that enables businesses to access digital solutions.”
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Carl Wenger, the current CEO of Contour, is expected to take a senior leadership role at Xalts. “I am really proud of what Contour has been able to accomplish in such a short time,” he says. “The vision that Xalts has for Contour’s future turbocharges its strengths and addresses key client needs.”
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About xalts
Founded in 2022 by Ashutosh Goel and Supreet Kaur, xalts is a financial infrastructure platform for institutions. We create technology that enables an interconnected and interoperable financial services ecosystem, in a secure and regulated manner.
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It’s suite of no-code applications, services and APIs power the development of programmable assets by unlocking multi-party collaboration between institutions using blockchain and DLT technology.
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