Adhara

Basics

• Adhara is a Consensys venture
• Adhara grew out of Consensys South Africa.

Khoka

• Project Khoka. In a consortium with seven commercial banks, the South African Reserve Bank conducted a proof-of-concept trial with Quorum, an enterprise-grade implementation of Ethereum, to process the typical daily volume of payments with full confidentiality and finality in less than two hours. Adhara is building a multi-currency liquidity management and international payments platform to optimize banks’ capital deployment, manage risk, and leverage liquidity effectively and globally.

Team, investors, partners

Team

• Peter Munnings; co-founder, former head of blockchain at FirstRand Bank in South Africa
• Julio Faura; co-founder, Santander's former blockchain lead
• Edward Budd; co-founder, former chief digital officer at Deutsche Bank.

Investors

• Blockchain startup Adhara, which boasts a line-up of former banking innovators, has secured $15 million in new funding from Consensys.

Partners

• Utility Settlement Coin is going to work with (24-2-2020) Adhara on commercial bank money as alternative to central bank digital currencies:

"The move is one of only a handful of public overtures by Fnality, the company that oversees the development of USC. Fnality raised $64.5 million in June 2019 from 14 shareholders including banking giants Barclays, Santander, BNY Mellon, ING and others.

“We think adding Adhara is going to really help us. They've got experience of doing some of this type of stuff in other places,” said Fnality CEO Rhomaios Ram."