Singapore-based digital market infrastructure firm Marketnode announced the closure of its Series A investment round, led by global banking giant HSBC and existing shareholder Temasek. The exact amount of the funding was not disclosed.

Marketnode plans to use the investment to enhance neutral financial market infrastructure for key asset classes, such as digital fixed-income and structured products. The company aims to develop a multi-asset ecosystem starting in the Asia-Pacific region.

Marketnode President Rehan Ahmed stated that the combination of Marketnode’s financial market infrastructure expertise and HSBC’s global platform presents a unique opportunity to shape the future of trusted and neutral market infrastructure.

The collaboration will also support the launch of Fundnode, Marketnode’s investment fund infrastructure utilizing distributed ledger technology, as well as future tokenized asset offerings.

Founded by Temasek and SGX Group, Marketnode has been working with HSBC since 2020 on initiatives like Project Guardian, the asset tokenization project led by the Monetary Authority of Singapore, and other digital bond initiatives.

Temasek is Singapore’s state-owned investment company, while SGX Group operates the Singapore Exchange.

Meanwhile, Singapore has been increasing regulations for crypto, adding to its stringent licensing regime. Last month, Singapore authorities announced an expansion of the companies regulated under its payment services rules to include more digital asset firms for anti-money laundering and user protection.