Is SETL Development going out of business!?

[CryptoMacroTrends]

The company designs and develops a multi-asset, multi-currency institutional payment and settlements infrastructure based financial grade blockchain technology platform worldwide.

The company entered into administration/bankruptcy on March 7, 2019.

Do you guys think SELT will survive to the administration?

http://www.cryptomacrotrends.com/blockchain-crypto-investors/is-setl-development-going-out-of-business/

 

[Pablo]

You're the analyst here - I was hoping you'd tell us!

Seriously though - this looks more like a corporate restructure than a complete dissolution. It sounds like the administrator is there to assist with breaking up the company in a sustainable way, rather than melting it down for scrap. But without access to the books, it's impossible to really know.

This fintech company is facing a challenge common to many in this space: having developed tech products and also funded businesses that might benefit from those, how does one maximise the return on all investments (time, development and capital) without the necessary in-house experience and one's own limited resources?

It's not easy.

The Legal Director of SETL France is unusually forthcoming about the background and viability of the business in an interview here: https://ecsda.eu/wp-content/uploads/2018/12/2018_11_27_TCremers_Interview.pdf

Not Ripple related, but an interesting development nonetheless and consistent with my view that 2019 will see a shake-out of many fintech, crypto and blockchain businesses.

[Phintech]

I personally enjoy watching all these "Ripple killers" dying off.  I can't remember how many times of the years the trolls came on here to post announcements of new services that were going to take down Ripple.