Furthermore, other financial institutions including inter-dealer broker ICAP Plcs venture arm are interested in investing in the startup, people familiar with the deal said this week. The investment will be in a range of USD 15 million to USD 20 million, one of the people said.
Axoni is a New York-based technology company that helps banks and other institutions develop blockchain software to run capital markets processes. This investment comes a month after rival blockchain company R3 CEV reduced the amount it is aiming to raise in a new funding round to USD 150 million from USD 200 million, with big names like Goldman Sachs and Banco Santander leaving its consortium.
A representative for Axoni declined to comment on the record when reached by phone, the online publication continues. The Axoni deal represents the latest Wall Street effort to gain traction with blockchain, which first emerged as the system underpinning digital currency Bitcoin.
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