On Thursday, Singapore’s Marketnode, a digital market infrastructure operator, secured funding for its Series A financing round led by HSBC, the British multinational universal bank and financial services group. The exact amount raised during the Series A funding was not disclosed.
Marketnode Secures Series A Funding Led by Financial Services Giant HSBC
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HSBC Joins Forces With Marketnode to Revolutionize Digital Asset Solutions
HSBC has backed Marketnode, a digital market infrastructure operator formed through a joint venture between Singapore Exchange (SGX) Group and the state-owned investment firm Temasek, which also contributed to the funding round. Marketnode develops distributed ledger technology (DLT) solutions for credit, funds, and structured products.
Marketnode runs two primary platforms: Fundnode, which handles fund settlement, and a platform dedicated to the digital issuance, data management, and asset servicing of fixed-income and structured products. “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,” Rehan Ahmed, Marketnode’s president stated on Thursday.
The Series A announcement on Thursday highlighted HSBC’s prior collaboration with Marketnode. Recently, the duo partnered with United Overseas Bank (UOB), a Singaporean multinational bank, to trial structured product issuance on public blockchain as part of Project Guardian. HSBC was among the initial financial institutions to join Marketnode’s tokenized bond experiments, along with Citi, BNPP, and BNY Mellon.
“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,” HSBC’s Ian Glasner, group head of Innovation, Ventures, and Digital Partnerships. The announcement also mentioned that John O’Neill from HSBC will be joining the board.
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