Marketnode, a digital market infrastructure operator established by SGX and Temasek, has announced plans to launch a blockchain-based fund settlement infrastructure, Fundnode, as early as late June. This development marks a significant milestone in the company's efforts to transform the fund settlement process, which typically takes between three to five years to develop.

Marketnode has spent approximately 12 months developing a commercially viable fund settlement platform, which has undergone rigorous testing to ensure its fund transaction management, processing, and record-keeping capabilities. The company's President, Rehan Ahmed, anticipates announcing more strategic partners for the Fundnode network later in 2024, including financial institutions and infrastructure participants.

In addition to the launch of Fundnode, Gateway, a one-stop issuance, tokenization, and asset service platform, plans to launch tokenized credit products, such as bonds and loans, in the first quarter of 2025. This move is expected to further expand Marketnode's platform in key asset categories such as digital fixed income and structured products.

Marketnode recently completed a Series A funding round led by HSBC, with participation from existing shareholder Temasek. The funds raised will be used to expand Marketnode's platform in key asset categories, participate in the upcoming Fundnode, and launch other tokenized asset products. As part of HSBC's investment, John O'Neill, Global Head of Digital Asset Strategy at HSBC, will join Marketnode's board of directors.

In conclusion, Marketnode's launch of Fundnode and Gateway's plans to launch tokenized credit products mark significant developments in the digital market infrastructure space. These initiatives are expected to transform the fund settlement process and expand Marketnode's platform in key asset categories, further solidifying its position as a leading digital market infrastructure operator.