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SoftBank veteran hunts for profits in payments infrastructure plumbing
Former SoftBank exec Akshay Naheta's startup, Distributed Technologies Research, is trying to bridge the gap between banking and blockchain tech. Akshay Naheta, a former SoftBank dealmaker, builds new-age pipes to modernize global payment networks.
The startup has built what Naheta describes as an “international orchestration network” that automatically routes transactions through either traditional banking or blockchain rails, depending on which path offers the optimal combination of speed and cost. Naheta said he nearly resigned from SoftBank in summer 2018 to focus on DTR and crypto venture Bakkt, but was persuaded to stay by senior executives, including Rajeev Misra and Masayoshi Son. Wise has built a successful business matching currency flows between countries, Ripple offers blockchain-based settlement despite its legal troubles, while traditional banks also say they are upgrading their systems through initiatives like SWIFT.
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