Greg Schvey, Axoni
New York - Axoni, a provider of distributed ledger technology, has announced that Citi has joined its Series A funding round, bringing the total amount raised to over $20 million. Citi joins a group of Series A investors, including Wells Fargo, NEX Group, J.P. Morgan, Goldman Sachs, Thomson Reuters., F-Prime Capital, Andreessen Horowitz, DCG, and others.
Axoni and Citi have collaborated on a number of distributed ledger deployments. Projects to date include the optimization of post-trade data management for credit default swaps and equity swaps, as well as the collaborative management of reference data among industry participants. Citi continues to be actively engaged in various live projects with Axoni, including the replatforming of the DTCC Trade Information Warehouse, which seeks to automate, and reduce the cost of derivatives processing across the financial services industry.
"Having the support and domain expertise of a world-class institution such as Citi will allow us to execute our vision even more broadly and rapidly - we are delighted to have Citi join Axoni's investor group," said Greg Schvey, CEO of Axoni.