HSBC has led a Series A investment in MarketNode, a Singapore-based digital market infrastructure operator established by SGX and Temasek.
Since 2020, MarketNode and HSBC have actively participated in MAS’s Project Guardian initiative, Singapore’s fund settlement infrastructure Fundnode, and several digital bond projects.
Rehan Ahmed, president of MarketNode, stated, “HSBC’s support represents the natural extension of our collaboration across multiple asset classes since MarketNode’s inception. The combination of MarketNode’s FMI operational expertise with HSBC’s leading global platform presents a unique opportunity to shape the next generation of trusted and neutral market infrastructure. We continue to welcome other industry partners to join us in rethinking financial markets in the Asia-Pacific region.”
This investment, which also includes contributions from existing shareholder Temasek, will be utilized to scale MarketNode’s platforms across key asset classes, such as digital fixed income and structured products, facilitate the upcoming launch of Fundnode, and expand other tokenized asset offerings.
As part of HSBC’s investment, John O’Neill, global head of digital asset strategy at HSBC, will join the Board of Directors at MarketNode.
Ian Glasner, group head of innovation, ventures, and digital partnerships at HSBC, remarked, “Our investment in MarketNode showcases our joint commitment to building a robust multi-asset digital infrastructure across our markets, enabling our customers to enter the world of digital assets safely and securely.”