According to Odaily Planet Daily, Marketnode, a digital market infrastructure operator founded by SGX and Temasek, said that it will launch a fund settlement infrastructure based on blockchain technology as early as late June. It took them about 12 months to build a commercially viable fund settlement platform Fundnode, while it usually takes 3 to 5 years to build such a platform.
During the pilot phase, Marketnode tested the platform’s fund transaction management, processing, and record-keeping capabilities. Marketnode President Rehan Ahmed said that more strategic partners for the Fundnode network, including financial institutions and infrastructure players, are expected to be announced later in 2024.
Earlier news, Marketnode completed its Series A financing, led by HSBC, and investors also included existing shareholder Temasek. This round of financing will be used to expand the scale of the Marketnode platform in key asset categories such as digital fixed income and structured products, participate in the upcoming Fundnode, and launch other tokenized asset products.
