SGX and Temasek Digital Asset JV Marketnode IF partners before product launch
Marketnode, a digital assets joint venture of Singapore Exchange (SGX) and Temasek, announced its partnership with ten global financial institutions ahead of the launch of its upcoming products.
The joint venture’s next products will focus on digital issuance services, ESG bond data and digital asset depository infrastructure.
SGX said in a statement that these components will play a key role in building an end-to-end DLT-enabled fixed-income infrastructure.
Financial institutions involved in the partnership include Barclays, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, Orient Securities International, Standard Chartered, SociÃ©tÃ© GÃ©nÃ©rale and UOB.
Beyond the early adoption of Marketnode’s products, these ten partner institutions will work closely with Marketnode to accelerate the use of its platform, provide market intelligence for product development, co-create DLT solutions and jointly explore product expansion beyond fixed income.
Marketnode’s fixed income issuer services platform is expected to launch in the fourth quarter of 2021.
The platform will provide issuers, law firms and banks with products and solutions such as streamlined documentation, investor engagement tools, ESG reports and market access mechanisms, which will be fed by data analysis.
In addition to its existing strategic collaboration with Covalent Capital, Marketnode will also partner with RootAnt Global, a Singapore-based fintech, and SETL, a UK-based blockchain solutions platform to grow its fixed income and multi -actives from start to finish. end infrastructure.
SGX added that Marketnode will continue to imagine with partners and industry to jointly create applications that bring greater efficiency to capital markets.
Lee Beng Hong, Head of Fixed Income, Currencies and Commodities (FICC) at SGX said:
âBy collaborating with banking and technology partners, we create network effects and develop scale and capabilities that can be applied to multiple assets within a single platform, to the benefit of banks, issuers and investors. .
We invite all market players to join Marketnode and play a role in accelerating the digital transformation of capital markets. “
Pradyumna Agrawal, Managing Director, Blockchain @ Temasek, added:
âThe participation of these banks in the Marketnode platform is an important step. It further validates the market for end-to-end infrastructure and services for digital assets.
Their contributions to improving the platform’s offerings and capabilities will be invaluable. We look forward to welcoming more market participants, as increased industry involvement will promote scale, robustness and drive greater innovation in capital market infrastructure. “