19 November 2017
visit www.response.ncr.com

Citi invests in DLT startup Axoni

11 May 2017  |  11860 views  |  0 Citi_Logo_New

Citi has become the latest Wall Street giant to join a Series A funding round for Axoni, bringing the total amount raised by the distributed ledger technology outfit to over $20 million.

Citi joins a group of investors that includes Wells Fargo, NEX Group, JPMorgan, Goldman Sachs, Thomson Reuters, F-Prime Capital and Andreessen Horowitz.

New York-based Axoni has been at the forefront of a number of major trials of distributed ledger technology in financial markets, with Citi participating in several of them, including for affirmations and post-trade lifecycle processing for OTC equity swaps.

Citi also worked on an R3-led test of Axoni’s proprietary distributed ledger software for simplifying reference data processes. In addition, the bank is engaged with an Axoni-led overhaul of the DTCC's Trade Information Warehouse to handle post-trade processing of derivatives contracts over a distributed ledger framework

Greg Schvey, CEO, Axoni, says: "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."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

DTCC to build post-trade distributed ledger framework for derivatives

DTCC to build post-trade distributed ledger framework for derivatives

09 January 2017  |  8148 views  |  0 comments | 20 tweets | 17 linkedin
Big banks prepare $20 million funding round for Axoni - Reuters

Big banks prepare $20 million funding round for Axoni - Reuters

20 December 2016  |  12717 views  |  0 comments | 8 tweets | 4 linkedin
Citi backs blockchain startup

Citi backs blockchain startup

15 December 2016  |  13643 views  |  0 comments | 17 tweets | 13 linkedin
Barclays and Citi test blockchain tech for equity swaps processing

Barclays and Citi test blockchain tech for equity swaps processing

18 October 2016  |  13561 views  |  0 comments | 26 tweets | 22 linkedin
Banks test blockchain for reference data management

Banks test blockchain for reference data management

20 September 2016  |  13994 views  |  0 comments | 21 tweets | 28 linkedin
Citi builds blockchains

Citi builds blockchains

02 July 2015  |  11219 views  |  2 comments | 24 tweets | 12 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.ncr.comvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
13541 views comments | 21 tweets | 21 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
11856 views comments | 15 tweets | 28 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
9957 views comments | 20 tweets | 36 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
9539 views comments | 13 tweets | 39 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
8029 views comments | 26 tweets | 37 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job