Bondcube Crumbles Three Months After Launch
Corporate debt trading platform struggled to compete against other startups.
Bondcube was one of a number of startups launched with the purpose of bridging a gap in the market created by requirements on banks to hold more capital.
Bondcube received approval from the UK Financial Conduct Authority (FCA) to roll out the platform across Europe in December last year prior to going live in North America and Europe in April.
The corporates market has seen a raft of new entrants to complement existing participants such as MarketAxess, and Bondcube struggled to establish itself.
"Although Bondcube succeeded to launch its platform, over recent months sufficient business prospects failed to materialize and as a result the long-term financial viability of the business deteriorated," Deutsche Börse said in a statement. "In these circumstances, the shareholders decided not to provide further funding to Bondcube."
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