Settlement giant Euroclear backs blockchain infra startup Marketnode

Singapore-based blockchain infrastructure startup Marketnode has received funding from European exchange giant Euroclear to expand services in the Asia-Pacific region.

Marketnode, a Singapore-based blockchain infrastructure startup, announced a strategic investment from European clearinghouse Euroclear aimed at expanding its services in the Asia-Pacific region.

The Singapore-based startup, which specializes in blockchain-based financial infrastructure and tokenization asset management, emphasized in its blog announcement on October 17 that the financing is compatible with Euroclear’s global fund strategy. While specific financial details of the investment were not disclosed, the announcement states that the partnership is expected to enhance Euroclear’s one-stop funding offering in the region.

Commenting on the funding, Marketnode CEO Rehan Ahmed said the investment will “accelerate the growth of Marketnode platforms and the firm’s partners, Euroclear, HSBC, Temasek and our customers will bring our mission and vision to life.”

Euroclear has previously ventured into blockchain technology, partnering with the World Bank to launch a tokenized securities issuance service that includes the issuance of a €100 million digital bond.

Founded in 2021 by SGX Group and Temasek, Marketnode serves as Asia-Pacific’s distributed ledger-supported financial market infrastructure. It offers a platform that includes startup, issuance, data, workflow and tokenization capabilities, as well as blockchain-based fund settlement infrastructure. In May, Marketnode closed a Series A investment round led by HSBC, with contributions from existing shareholder Temasek, to scale its platform to develop a multi-asset ecosystem.