HSBC Leads Series A Funding in Marketnode to Expand Digital Asset Infrastructure
This expansion will be part of the forthcoming launch of Fundnode and the introduction of additional tokenized asset offerings.
Marketnode, a digital market infrastructure operator based in Singapore, has successfully completed the initial round of its Series A funding. HSBC led the investment, with further contributions from the existing shareholder, Temasek. The capital raised will be used to enhance Marketnode's platforms and support the creation of a multi-asset ecosystem, starting with the Asia-Pacific region.
Since the start of their collaboration in 2020, HSBC and Marketnode have jointly developed a digital market infrastructure encompassing credit, funds, and structured products. Their partnership has expanded to include initiatives such as MAS's Project Guardian, Singapore's fund settlement infrastructure Fundnode, and a variety of digital bond initiatives.
The recent investment will allow Marketnode to collaborate with the financial services industry to expand its infrastructure across major asset classes, including digital fixed-income and structured products. This expansion will be part of the forthcoming launch of Fundnode and the introduction of additional tokenized asset offerings.
As part of HSBC’s investment, John O’Neill, Global Head of Digital Asset Strategy at HSBC, will join Marketnode’s Board of Directors. Ian Glasner, Group Head of Innovation, Ventures, and Digital Partnerships at HSBC emphasized the importance of this investment: “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. We are excited to embark on the next chapter of our collaboration to drive innovation in the industry.”
Pradyumna Agrawal, Managing Director, of Investment (Blockchain) at Temasek, stated: “The Series A investment will help Marketnode further develop market-neutral financial infrastructure. This validates Marketnode’s pioneering effort in a promising and rapidly growing area and will help accelerate industry adoption as we look to shape a digital future for the capital markets industry collectively.”
Rehan Ahmed, the President of Marketnode, took pride in announcing HSBC as the lead strategic investor, stating, "HSBC's backing is a natural progression of our partnership across various asset classes since the beginning of Marketnode. The combination of Marketnode's FMI operational know-how and HSBC's top-tier global platform offers a distinctive chance to develop the future of reliable and impartial market infrastructure. We invite more industry collaborators to join us in innovating the financial markets from the Asia-Pacific region."
The announcement arrives amidst Singapore's tightening of cryptocurrency and digital asset regulations, intensifying its rigorous licensing system. Recently, Singaporean authorities broadened the range of entities under the payment services regulations to encompass firms dealing with digital assets to strengthen anti-money laundering efforts and protect users.
