“Can a DLT-powered post-trade infrastructure platform become the real-time settlement and liquidity operating system for tier-1 and mid-market banks globally?”
Founded in 2016, Baton Systems built post-trade processing infrastructure targeting the world's largest banks, focusing on real-time liquidity management, collateral, and settlement orchestration. The company established itself as a DLT-powered FX settlement platform through flagship relationships with HSBC and Citi, settling over $25 trillion to date. As institutional demand shifted toward intraday liquidity control and multi-currency operations, Baton expanded its product suite beyond FX settlement to include Core-Payments (outgoing payment control) and Core-Collateral. Most recently, the company extended into the regional bank segment through TrueNostro, a partnership product with Derivative Path targeting mid-market institutions seeking FX independence from correspondent banking.
Baton Systems processes payments through Core-Payments® (self-operated).
Baton Systems uses Derivative Path (TrueNostro joint solution) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 2 layers in Baton Systems's stack: Payments / PSP (Core-Payments® (self-operated)); FX & payouts (Derivative Path (TrueNostro joint solution)).
Baton Systems is founded in 2016 and headquartered in Fremont, California, United States.
Baton Systems has raised $34.0M in total.
Get a read on where your own stack stands against Baton Systems and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.