HSBC has thrown its support behind Marketnode, a digital market infrastructure operator established as a joint venture between Singapore Exchange (SGX) Group and the state-owned investment firm Temasek, which also participated in the funding round. Marketnode specializes in developing distributed ledger technology (DLT) solutions for credit, funds, and structured products.

Marketnode operates two main platforms: Fundnode, which facilitates fund settlement, and a platform dedicated to the digital issuance, data management, and asset servicing of fixed-income and structured products. Rehan Ahmed, Marketnode's president, highlighted the significance of the collaboration between Marketnode's FMI operational expertise and HSBC's leading global platform in shaping the next generation of trusted and neutral market infrastructure.

The Series A announcement emphasized HSBC's previous collaboration with Marketnode. Recently, they partnered with United Overseas Bank (UOB), a Singaporean multinational bank, to conduct structured product issuance trials on public blockchain under Project Guardian. HSBC was among the early financial institutions to participate in Marketnode's experiments with tokenized bonds, alongside Citi, BNPP, and BNY Mellon.

Ian Glasner, HSBC's group head of Innovation, Ventures, and Digital Partnerships, highlighted their joint commitment to building a robust multi-asset digital infrastructure across markets, enabling customers to safely and securely engage with digital assets. The announcement also mentioned that John O'Neill from HSBC would be joining the board.