NEW YORK and LONDON, Nov. 13, 2018 /PRNewswire/ -- Axoni, a leading provider of enterprise blockchain technology, announced today that HSBC has joined its Series B financing round, bringing the total amount raised in this round to $36 million and total funding to date to $59 million.
Axoni will use the latest round of financing to enhance its data synchronization technology, expand its suite of infrastructure products to support mission-critical deployments of AxCore, and broaden the network of enterprises leveraging distributed ledgers. It will also advance development of AxLang, the world's first Ethereum-compatible smart contracting language to enable formal verification.
HSBC, among the largest banks in the world, brings a dynamic and global addition to Axoni's strategic partnerships. The two firms are actively collaborating on initiatives to deploy Axoni's data synchronization technology for automation, auditability, and accessibility in some of the widest-reaching infrastructure in finance.
HSBC joins a noteworthy group of Axoni investors, including Goldman Sachs, NYCA Partners, Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, J.P. Morgan, NEX Group, Wells Fargo, and Y Combinator.
"Distributed ledger technology will clearly be important in modernizing the shared infrastructure of capital markets. Axoni has demonstrated that they are the leader in this space and HSBC is delighted to work with them on increasing efficiency and lowering costs for the industry," said Matthew J. Flanigan, COO of HSBC Global Banking and Markets, Americas.
"We are delighted to have the support of HSBC. Their unique combination of global reach and innovative drive make them a perfect addition to our strategic investor group," said Axoni CEO Greg Schvey.
About HSBC Bank USA, N.A.
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly- owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of FDIC. Investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.
About HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 3,900 offices in 67 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,522bn at 31 December 2017, HSBC is one of the world's largest banking and financial services organizations.
About Axoni
Axoni is a New York-based technology firm that specializes in multi-party data synchronization software, with clients including many of the world's largest financial institutions and capital markets infrastructure companies. Founded in 2013 by a team of distributed ledger technology experts, the company offers blockchain infrastructure, distributed application development, and workflow automation tools.
SOURCE Axoni
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