Euroclear Sees Asian Blockchain Promise through Singapore’s Marketnode

Euroclear, a Belgium securities settlement company, has now marked its entry into the Asian market through a significant acquisition of Marketnode, a Singapore based company that operates in the field of blockchain technology for the financial market. This will be the first strategic investment from Euroclear in the region, which indicates the company’s attention in decentralized blockchain technology.

The company disclosed the investment pointing out that its objective is to engage in the construction of market infrastructure in the region to optimize fund movement and cut down on settlement periods by utilizing innovative technology shipped in block chain.

Although the amount has not been revealed by Euroclear it remains the strategic shareholder of Marketnode along with other key players such as the Singapore Exchange or SGX Group, Temasek and the HSBC bank. In the first part of May 2024, Marketnode managed to finish the Series A funding, in which HSBC took the role of a leader.

Marketnode, established in 2021 by SGX and Temasek, runs two primary platforms — Gateway and Fundnode. Gateway provides end-to-end solution utilizing tokenization whilst Fundnode is in charge of Singapore’s investment fund architecture on blockchain. This new investment is part of Euroclear’s plan to optimize their line up of funds under, known as the Euroclear FundsPlace.

“This is the first of what is sure to be many strategic investment by Euroclear in Asia, which strongly underlines this region as a critically important to the company’s positioning and growth path.” said Philippe Laurensy, Euroclear’s Chief Executive Officer for Asia Pacific markets. “We are delighted to become Marketnode’s partners in its exciting venture into one of the most rapidly developing spheres – digital assets and their trading.”

Other stakeholders that responded to the partnership include Pradyumna Agrawal, the managing director of investment at Temasek who said that since Marketnode will benefit from Euroclear’s experience and connections to a vast ecosystem, the initiative will further strengthen Singapore’s position as a financial hub for funds.

It is now quite transparent that Euroclear has realized blockchain as a strategic segment, having funded Fnality, a London-based blockchain payment, in different phases of 2022 and 2023.

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