Alphaledger, a Los Angeles, CA-based provider of blockchain infrastructure for fixed income assets, raised an undisclosed amount in Series A funding.
The round was led by EJF Ventures, the investment arm of EJF Capital, with participation from KDX and strategic investors.
The company intends to use the funds to accelerate product development, expand footprint and support the continued adoption of its blockchain platform focused on asset origination and the development of autonomous clearing.
Founded in 2019 by former PIMCO executives Manish Dutta, Tammie Arnold, and Chris Wade (consultant to PIMCO), Alphaledger is a provider of blockchain infrastructure for fixed income assets, focused on origination and the development of autonomous clearing. Its platform is designed to streamline the entire lifecycle of financial assets, from origination to settlement, by leveraging blockchain technology.
Alphaledger also announced a new commercial agreement with Tradeweb Markets to jointly develop new products leveraging its blockchain technology, continuing its collective efforts to deliver technology that strengthens the market infrastructure.
Commenting on the news, Manish Dutta said: “We are thrilled to have the backing of such esteemed investors as EJF Capital and KDX, and to partner with Tradeweb as we continue to nurture the evolution of our markets. Their combined expertise in financial services, technology, and global markets will be invaluable as we scale our platform and unlock the full potential of blockchain technology for capital markets participants.”
FinSMEs
23/05/2024