Blockchain fintech Axoni raises another $18m
Distributed ledger technology provider Axoni has secured $18m in series A funding from investors including Wells Fargo, Goldman Sachs and JP Morgan. The New York-based fintech firm has employed blockchain technology to optimise post-trade data management for foreign exchange derivatives, credit default swaps and equity swaps. In its year-long lifespan, Axoni has formed partnerships with more than a dozen banks around the world as well as financial infrastructure providers. 

 

 

Axoni, a provider of distributed ledger technology to the financial services industry, has announced the completion of an $18 million Series A financing round led by Wells Fargo and Euclid Opportunities, NEX’s fintech investment business, bringing Axoni’s total funding to date above $20 million.

The financing round also included participation from Goldman Sachs, JP Morgan, Thomson Reuters, Andreessen Horowitz, FinTech Collective, F-Prime Capital Partners and Digital Currency Group.

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Distributed Ledger Technology

Axoni has established itself in the financial services industry for its distributed ledger technology expertise through a variety of deployments including the optimisation of post-trade data management for credit default Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, equity swaps, and foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term derivatives, implemented in partnership with over a dozen global banks and financial infrastructure providers. The deployments validate how distributed ledger technology can streamline multi-party workflows, reduce reconciliation costs, and provide greater transparency to financial markets.

We are delighted to have strategic support from global leaders in financial services.

Greg Schvey, CEO of Axoni, said: “We are delighted to have strategic support from global leaders in financial services. The changes already underway based on distributed ledger technology will have a profoundly positive impact on the industry. Axoni is excited to help drive that progress alongside our investors and clients.”

“Since we started working with Axoni over a year ago, we’ve been impressed with their knowledge of financial services, as well as their expertise with how distributed ledger technology can intersect with other evolving technologies. They have quietly built their credibility with key financial players and have emerged as one of the leaders in this rapidly evolving space,” added Richard Kerschner, Chief Corporate Development Officer for NEX Opportunities.