Capital Markets Blockchain Startup Axoni Culls up To $20m Investment from Goldman Sachs and JP Morgan Chase

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Capital Markets Blockchain Startup  Axoni has been funded by Goldman Sachs Group, J.P. Morgan Chase and other leading financial institutions – including a venture arm of inter-dealer broker ICAP Plc this week. 

According to a report by Olivia Oran and Anna Irrera in Reuters:

The investment will be in a range of $15 million to $20 million (12.10 million pounds to 16.13 million pounds), one of the people said. It is expected to be announced this week, said the sources, who spoke on the condition of anonymity because they were not authorized to speak publicly.

The move represents the continuation of Wall Street’s effort to get a grip on Blockchain technology,  who say they can likely use the technology to help slash some of their transaction processing and back-office costs. If they don’t make a move into the Blockchain arena, they also potentially risk seeing an Uber or Airbnb come out of the Blockchain startup world and upend their value chain. 

Over the past six months, New York-based technology company Axoni has run a number of high-profile experiments with some of the financial industry’s largest players, in areas such as post-trade processing of credit default swaps and foreign exchange.

The Axoni investment comes a month after R3 CEV reduced the amount it is aiming to raise in a new funding round to $150 million from $200 million and faced an exodus of members who bailed out of the group including Goldman Sachs and Santander.

 

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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