Ottawa-based Solace to underpin U.K. fintech firm’s exchange platform

Les
Solace Systems CEO Les Rechan. Photo by Caroline Phillips.

An Ottawa company’s tech will enable rapid data transfers on a British firm’s platform that manages cryptocurrencies and other digital assets.

Ottawa’s Solace Systems develops software called PubSub+, a message-routing system capable of delivering information to millions of users and end-devices per second. London-based Koine Finance will employ Solace’s platform on its financial trading systems.

Koine’s services specifically allow clients to store and trade cryptocurrencies and other digital assets. With PubSub+, the firm says it will be able to deliver a more rapid flow of real-time data to its customers as they manage their digital portfolios.

"In the rapidly evolving digital assets and cryptocurrency markets, the fast, secure, reliable distribution of data and events is absolutely mission-critical," said Solace CEO Les Rechan in a statement.

Financial details of the deal were not disclosed.

Solace’s software isn’t just for the fintech market. The local firm also recently landed a deal with Daimler to power in-vehicle messaging systems for the large German automaker.