HSBC has led a Series A investment in MarketNode, a Singapore-based digital market infrastructure operator founded by SGX and Temasek.
Since 2020, MarketNode and HSBC have jointly participated in MAS’s Project Guardian initiative, Singapore’s fund settlement infrastructure Fundnode, and several digital bond initiatives.Rehan Ahmed, president, Marketnode, comments: "HSBC’s support represents the natural extension of our collaboration across multiple asset classes since Marketnode’s inception. 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. We continue to welcome other industry partners to join us in rethinking financial markets out of Asia-Pacific."The investment, which also included contributions from existing shareholder Temasek, will be used to scale Marketnode’s platforms across key asset classes such as digital fixed income and structured products, participating in the upcoming launch of Fundnode, and rolling out other tokenised 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 onnovation, ventures, and digital partnerships at HSBC, says: “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.”
By on Thu, 30 May 2024 09:14:00 GMT
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