Swedish fintech entrepreneur, Scott Millar, stealth launches new block chain venture - Blocksettle

Blocksettle is a newly founded blockchain company based in Stockholm, Sweden.

The company was founded in 2016 by Scott Milar and Albert Janson, as they quit their involvement with Cryex, in order to continue the work for developing matching and settlement models focused on block-chain ledger technologies.

Cryex had chosen to pivot from this direction to creating a marketplace for FX trading. Cryex is funded by venture money, as it took about $18M in risk capital from investors including Northzone, Conor Venture or White Star Capital.

Blocksettle is financed by the founders, with a SEK 1.2M ($140k) initial capital placement.