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

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

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

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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