Clearmatics, the developers of the Technology behind the Utility Settlement Coin (USC) consortium has announced the appointment of Rhomaios Ram as the Consortium Executive. The USC consortium is aiming to develop digital cash for institutions, the Utility Settlement Coin, which digitises many of the properties of Central Bank Money on a Distributed Ledger. The aim of the project is to significantly enhance the current clearing and settlement process between institutions and counterparties. Ram joins as the consortium expands its membership from five to eleven members.
As Consortium Executive, Ram will lead the Operating Company of the Consortium which will continue to be a Division of Clearmatics for the next Phase of development. Robert Sams, CEO of Clearmatics say ”Rhomaios brings a passion for transformational technology and wealth of market experience to the USC Project, we are thrilled to have him as part of the team and lead this project.”
Ram was a managing director at Deutsche Bank where he spent more than 22 years in various roles including head of transaction banking for the UK and Ireland, head of electronic distribution for Global Markets and European head of currencies and commodities. More recently he has spent time advising various Fintech Startups.
Clearmatics is developing the next-generation clearing machines for financial market infrastructure. Our blockchain technology brings together financial participants on a 1 of 2 Rhomaios Ram appointed as USC Consortium Executive single platform, where members can settle trades and automate the performance of financial contracts, whilst enabling new business models that encourage innovation and the mutualisation of network economics. The Utility Settlement Coin (USC) project is a consortium of 11 leading banks and financial institutions developing a distributed, multi-currency payment system for the final transfer of a digital cash settlement asset for capital markets usage.