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HSBC leads Series A investment in Apac digital market infrastructure operator Marketnode

Ashley Lo
Ashley Lo • 2 min read
HSBC leads Series A investment in Apac digital market infrastructure operator Marketnode
Marketnode has been a key participant in several projects including the Project Guardian initiative led by the Monetary Authority of Singapore (MAS). Photo: Marketnode
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Singapore-based digital market infrastructure operator Marketnode has completed its first successful close of its Series A investment round led by HSBC alongside contributions from existing shareholder Temasek. Starting in the Asia-Pacific (Apac) region, the investment will be used to scale Marketnode’s platforms and realise shareholders’ ambitions to create a multi-asset ecosystem, as announced by the company on May 30. 

Starting in 2020, HSBC and Marketnode have co-developed a digital market infrastructure that includes credit, funds and structured products. 

Additionally, the company has been a key participant in several projects including the Project Guardian initiative led by the Monetary Authority of Singapore (MAS), Singapore’s fund settlement infrastructure Fundnode, and several digital bond initiatives.

The joint investment with HSBC has enabled the company to collaborate with the financial services industry, strengthening Marketnode’s capabilities to expand and scale its neutral financial infrastructure across key asset classes like digital fixed-income, structured products and tokenised assets. 

As part of HSBC’s investment, the company also announced that John O’Neill, global head of digital asset strategy at HSBC will join Marketnode’s board of directors. 

“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. 

See also: Redefining Asean’s manufacturing landscape with deep learning

Pradyumna Agrawal, managing director of investment (blockchain) at Temasek adds that the Series A investment will help to validate Marketnode’s pioneering effort in a fast-growing area and will accelerate industry adoption as they continue to collectively shape a digital future for the capital markets industry. 

“The marriage of Marketnode’s financial market infrastructures (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,” says Rehan Ahmed, president of Marketnode.

 

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