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 of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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