Today Euroclear and Singapore’s Marketnode announced the integration of their respective fund systems, FundsPlace and Fundnode. It follows an investment by Euroclear in Marketnode last year, joining early backers HSBC, SGX and Temasek. Fundnode is a blockchain-based fund settlement infrastructure launched in Q2 2024 and developed in conjunction with Singapore Funds Industry Group (SFIG), which is co-chaired by the Monetary Authority of Singapore (MAS). The combined offering provides a fund order and processing solution for retail and institutional funds in Singapore.
Euroclear’s FundsPlace supports more than 250,000 funds from over 2,500 asset managers. Now FundsPlace clients can potentially distribute these funds in Singapore via Fundnode. For Fundnode participants, it broadens the investments available beyond domestic funds.
MAS statistics show that Singapore had S$5.4 trillion ($4.2 trillion) in assets under management in 2023, with 77% sourced from outside the city-state. Europe lags behind with just a 13% market share, compared to Asian countries outside of Singapore (33%) and North America (20%).
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