HSBC Leads Marketnode’s ‘Strategic’ Series A Investment Round

Marketnode concludes a strategic Series A investment round led by banking giant HSBC.

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Created by Kornelija Poderskytė from DailyCoin
  • Marketnode has concluded its Series funding investment round.
  • A global banking giant led the round.
  • Marketnode will use the investment for several initiatives.

Marketnode announced on Thursday the conclusion of its Series A investment round led by global banking giant HSBC.

Founded by SGX Group and Temasek, Marketnode is a Singapore-based digital market infrastructure operator interested in tokenized credit, funds, and structured products. The company and HSBC have jointly participated in the MAS-led Project Guardian to test various digital bond initiatives.

Marketnode’s Series A Investment

According to a press release dated May 30, HSBC led a strategic Series A investment round for Marketnode, with participation from existing shareholder Temasek.

Sponsored

Without disclosing the exact amount of the funding, Marketnode said it would use the investment to bolster financial services infrastructure across key asset classes such as digital fixed income and structured products.

The company will also use the funding to collaborate with financial industry stakeholders, roll out other tokenized asset offerings, and participate in the upcoming launch of Fundnode, its investment fund infrastructure powered by distributed ledger technology.

Marketnode President Rehan Ahmed lauded the development, noting that HSBC’s support represented the “natural extension” of the two companies’ collaboration.

"The marriage of Marketnode’s FMI operational expertise and HSBC’s market leading global platform represents a unique opportunity to shape the next generation of trusted and neutral market infrastructure," Ahmed stated.

According to the statement, John O’Neill, Global Head of Digital Asset Strategy at HSBC, will join Marketnode’s Board of Directors as part of HSBC’s investment in the company.

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Brian Danga

Brian Danga is a crypto reporter at DailyCoin covering breaking news. Brian has minor holdings in Bitcoin and Ethereum.

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