Leading global bank Citi has joined leading blockchain provider Axoni’s Series A funding round, bringing the total amount raised to more than $20 million.
The announcement stated that with the participation in Axoni’s funding round, Citi has joined a noteworthy group of investors in the round including Wells Fargo, NEX Group, J.P. Morgan, Goldman Sachs, Thomson Reuters., F-Prime Capital, Andreessen Horowitz, DCG, and others.
“Having the support and domain expertise of a world-class institution such as Citi will allow us to execute our vision even more broadly and rapidly – we are delighted to have Citi join Axoni’s investor group,” said Greg Schvey, CEO of Axoni.
Having collaborated on a number of successful, high-profile distributed ledger deployments with Axoni, Citi is continuing to actively engage in various live projects including the re-platforming of the DTCC Trade Information Warehouse that is seeking to streamline and reduce the costs of derivatives processing across the financial services industry. Few of the previous collaborative projects include the optimization of post-trade data management for credit default swaps and equity swaps, as well as the collaborative management of reference data among industry participants.
NEX Group’s Harmony network, which is one of the leading connectivity provider for foreign exchange trade data between prime brokers and their clients, recently selected Axoni as the provider of blockchain for post-trade data management.
