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Tradeweb and Alphaledger will develop Blockchain products
Alphaledger, a leading blockchain infrastructure provider for fixed income assets focused on building and developing autonomous clearing systems, announced the first close of its Series A funding round led by EJF Ventures, the investment arm of EJF Capital , with the participation of KDX and strategic investors.
The funding will accelerate product development, expand presence and support the continued adoption of Alphaledger’s innovative blockchain platform focused on asset creation and autonomous clearing development.
Alphaledger also announced a new commercial agreement with Tradeweb Markets to jointly develop new products leveraging its blockchain technology, continuing its collective efforts to provide cutting-edge technology that strengthens the market’s infrastructure.
Manish Dutta, CEO of Alphaledger, said: “We are thrilled to have the support of esteemed investors like EJF Capital and KDX and to partner with Tradeweb as we continue to nurture the evolution of our markets. Their combined experience in financial services, technology and global markets will be invaluable as we scale our platform and unlock the full potential of blockchain technology for capital markets participants.”
Alphaledger’s platform is designed to streamline the asset creation and clearing process with a focus on increasing transparency, reducing costs and shortening settlement times for financial institutions.
Jonathan Bresler, Managing Partner at EJF Ventures, commented: “Modernizing legacy financial infrastructure is essential as market participants grapple with the challenges of an increasingly real-time world. Alphaledger’s innovative approach, from asset creation to bond life, is designed to reduce liquidity and execution risk for market participants (issuers, banks, underwriters, investment managers) and improve operational efficiency . We believe Alphaledger can be applied across many lines of financial services and are excited to support Alphaledger’s exemplary team.”
“Alphaledger’s platform will revolutionize fixed income markets,” said Ashby Monk, who invested in Alphaledger through KDX and is the executive director of Stanford’s Long-Term Investing Initiative. “As early investors, we are excited to witness Alphaledger’s continued expansion and its potential to revolutionize market dynamics. Their commitment to building assets on blockchain, within the confines of the US regulatory landscape, is inspiring widespread market adoption. We are proud to support the exceptional team bringing Alphaledger forward.”
Michael Piwowar, strategic advisor at Alphaledger and former acting chairman of the SEC, said: “The integration of blockchain technology into the regulated securities market is very valuable if it improves the quality of the market within the safeguards of the regulated framework. This is what is doing Alphaledger.”
Source: Alphaledger
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