Alphaledger, a leading provider of blockchain infrastructure for fixed income assets, focused on the origination and development of autonomous clearing, announced the first closing of its Series A funding round led by EJF Ventures, the investment arm of EJF Capital, with participation from KDX and strategic investors.

The funding will accelerate product development, expand footprint and support the continued adoption of Alphaledger’s innovative blockchain platform focused on asset origination and the development of autonomous clearing.

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 cutting-edge technology that strengthens the market infrastructure.

Manish Dutta, CEO of Alphaledger, 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.”

Alphaledger’s platform is designed to streamline the asset origination and clearing process with a focus on increasing transparency, lowering costs, and reducing settlement time for financial institutions.

Jonathan Bresler, Managing Partner of EJF Ventures, commented, “Modernizing legacy financial infrastructure is essential as market participants grapple with the challenges of an increasingly real-time world. Alphaledger’s innovative approach from asset origination through the life of the bonds is designed to reduce cash drag and execution risk for the market participants (issuers, banks, underwriters, investment managers) and improve operational efficiency. We believe Alphaledger has applicability across many lines of financial services, and we are excited to support the exemplary team at Alphaledger.”

“Alphaledger’s platform will revolutionize the fixed income markets,” said Ashby Monk, who invested in Alphaledger through KDX and is the Executive Director of Stanford’s Initiative on Long-Term Investing. “As early investors, we’re thrilled to witness Alphaledger’s ongoing expansion and its potential to revolutionize market dynamics. Their commitment to asset origination on blockchain, within the confines of the US regulatory landscape, is inspiring broad-based market adoption. We’re proud to stand behind the exceptional team driving Alphaledger forward.”

Michael Piwowar, Strategic Advisor to Alphaledger and former Acting Chairman of the SEC, stated, “The integration of blockchain technology into the regulated securities market is most valuable if it improves the quality of the market within the safeguards of the regulated framework. That is what Alphaledger is doing.”

Source: Alphaledger