Blockchain Startup Axoni Bags $32 Million Funding From Goldman Sachs

BTC Wires: Blockchain and enterprise firm Axoni has managed to raise $32 million in a round of funding led by several high-profile international banking institutions and venture capital investors, including banking giants Goldman Sachs, along with Nyca Partners. The Series B funding boasted a number of other big names such as JPMorgan, Citi, Wells Fargo, and Andreessen Horowitz. With the completion of this new round of funding, the full amount of Axoni’s financing stands at $55 million to date.

Greg Schvey, co-founder of Axoni’s, said to reporters that this round of funding not only made sure that they received their much required capital, but also led to a “deep strategic” partnership between the firm and its investors. This is especially considering that many of the names involved in the funding have themselves begun working to expand their business from the traditional financial sector, by integrating more and more DLT technologies like blockchain.

Late last year, Citi, Goldman Sachs, and JPMorgan participated in a trial run of Axoni’s AxCore platform in order to trade equity derivatives using the DLT system. Recently, Axoni also joined hands with Clearmatics and managed to raise a contract from one blockchain and settle it on a different one, which indeed marks a milestone in inter-blockchain operations.

“The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications,” stated the head of Market Structure and Electronic Trading Services of Wells Fargo Securities, C. Thomas Richardson.

The biggest project that Axoni is currently working on is in collaboration with DTCC – a firm that processes roughly $1.6 quadrillion in securities trades every year, making it the largest financial value processor of the world. DTCC made the announcement last year that it would partner up with Axoni, IBM, and crypto conglomerate R3 to rework its Trade Information Warehouse for processing equities.

Other important influx of capital that the crypto world had recently witnessed include the $28 million that securities service Harbor has received from Andreessen Horowitz and Pantera Capital. Another notable partnership is that of Venrock, the VC wing of Rockefeller, and Coinfund.

Kapil Gauhar

Kapil Gauhar is the founder of Blogger’s Gyan. He is a Passionate Blogger, a Big Thinker and a Creative Writer. His passion for doing friendship with words and letting people know about the wonders of the Digital World is what motivates him to take writing as a career.