Color wall Street has invested in blockchain startup Axoni


Color wall Street has invested in blockchain startup Axoni

Goldman Sachs, J. P. Morgan, Wells Fargo, Citigroup — what is common among these companies? They are heavyweights of their markets, and all of them together with other representatives of wall Street and Silicon valley investors became blockchain startup Axoni. At least, this is a significant occasion to take a closer look at the project.

Last round of financing Axoni raised $32 million With regard to previously raised funds total amount of attracted Axoni capital was $55 million Amount does not shake imagination, but the investor would have done honor and to the larger project. In addition to the above companies, investors made NEX Group, Franklin Templeton, Andreessen Horowitz, Y Combinator and Digital Currency Group.

The reason for their interest? Axoni — blockchain developer-solutions for the financial sector on the basis of the Ethereum platform, focused primarily on the practical application of technology.

Consequently, companies investing in the project, are potential participants. “It’s all strategic investors, says co-founder and CEO Greg Axoni Seamstresses. — We have a strategic and commercial relations with most of them.”

Startup puts before itself rather ambitious goals — among them, for example, the transfer on the blockchain part of the transactions of the Depository Trust and Clearing Corporation. DTCC is the world’s largest financial infrastructure, processing transactions worth $1.6 quadrillion a year. The irony of the situation is that the DTCC is just the classic intermediary in the chain of transactions, whose role should be to neutralize the blockchain, but the giant obviously had a different opinion.

DTCC plans to begin testing blockchain solutions Axoni to the end of the current quarter. Presumably, this phase will last until early next year, then the platform should move in normal operation.

Previously, the platform Axcore, which plans to use for their needs DTCC, has been successfully tested Goldman Sachs, J. P. Morgan and Citigroup in operations with derivatives. It is the derivatives — a real headache from the point of view of information, data, claims Seamstresses.

“If we talk about derivatives, it is a separate world in which everyone communicates with various counterparties, independently from each other — he explains. Each of them manages its accounting systems and data processing, and it’s all very addictive the whole process of the transaction.”

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