Today Euroclear announced it has made an investment in Singapore market infrastructure Marketnode. HSBC led Marketnode’s Series A funding round in May. The company was founded in 2021 as a joint venture between the Singapore Exchange and state-backed investment company Temasek. Marketnode has a tokenization solution, Gateway, and a DLT based fund administration platform Fundnode.
Euroclear is particularly interested in the Fundnode offering, which it sees as strengthening its own Euroclear FundsPlace solution in the Asia-Pacific region.
Fundnode was built in association with the Singapore Funds Industry Group (SFIG), which is co-chaired by the Monetary Authority of Singapore and an industry representative. Two years ago Fundnode ran trials with many major players in the global asset management sector. Subsequently, it was confirmed as the operator of Singapore’s fund settlement infrastructure. Some of the trial participants included Apex Group, Citi, Deutsche Bank, FNZ, HSBC and State Street.
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