Marketnode, a Singapore-based provider of digital market infrastructure, has successfully closed the first round of its Series A funding round, which was led by HSBC and included contributions from Temasek, an existing stakeholder.
The investment will be used to develop it’s platforms and fulfil shareholders’ goals of building a multi-asset ecosystem, beginning in the Asia-Pacific (Apac) region.
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A co-developed digital market infrastructure comprising credit, money, and structured products was created by HSBC and Marketnode beginning in 2020.
The business has also played a significant role in a number of projects, including as the Monetary Authority of Singapore’s (MAS) Project Guardian initiative, Fundnode, Singapore’s fund settlement infrastructure, and a number of digital bond projects.
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The company’s ability to work with the financial services sector has been strengthened by the joint investment with HSBC. This has allowed Marketnode to grow and develop its impartial financial infrastructure across important asset classes such tokenized assets, structured products, and digital fixed-income.
John O’Neill, the global head of digital asset strategy at HSBC, will join Marketnode’s board of directors as part of HSBC’s investment, the business revealed.
“Our investment in Marketnode showcases our joint commitment to building a robust multi-asset digital infrastructure across our markets, helping our customers enter the world of digital assets safely and securely,” says Ian Glasner, group head of innovation, ventures, and digital partnerships at HSBC.
The Series A investment will help to validate Marketnode’s innovative work in a rapidly expanding field and will speed up industry adoption as they continue to jointly shape a digital future for the capital markets industry, says Pradyumna Agrawal, managing director of investment (blockchain) at Temasek.
About Marketnode
Marketnode was established to fulfil the demand for a reliable, impartial, and industry-wide FMI that could offer data, transaction management, and lifecycle services for assets based on ledgers, such as money, credit, and structured products.
