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.”
About Alphaledger Alphaledger is a leading provider of
blockchain infrastructure for fixed income assets, focused on
origination and the development of autonomous clearing. The
company's platform is designed to streamline the entire lifecycle
of financial assets, from origination to settlement, by leveraging
the power of blockchain technology. Notably, Alphaledger pioneered
the recording of municipal loans and securities on its platform.
Alphaledger was founded in 2019 by former PIMCO executives Manish
Dutta, Tammie Arnold, and Chris Wade (consultant to PIMCO). The
company is committed to driving innovation and efficiency in the
financial services industry.
About EJF Capital EJF Capital LLC is a global alternative
asset management firm headquartered outside of Washington, D.C.
with offices in London, England and Shanghai, China. As of March
31, 2024, EJF manages approximately $5.9 billion* across a diverse
group of alternative asset strategies. The firm was founded in 2005
by Manny Friedman and Neal Wilson. To learn more, please visit
http://ejfcap.com and please read additional Risks and Limitations
located here.
*Firm AUM includes $3.0 billion in CDO assets through affiliates
and $165.3 million of uncalled capital.
About KDX KDX focuses on investing in promising startups
with disruptive technologies that have the potential to transform
the financial services industry.
About Tradeweb Tradeweb Markets Inc. (Nasdaq: TW) is a
leading, global operator of electronic marketplaces for rates,
credit, equities and money markets. Founded in 1996, Tradeweb
provides access to markets, data and analytics, electronic trading,
straight-through-processing and reporting for more than 50 products
to clients in the institutional, wholesale and retail markets.
Advanced technologies developed by Tradeweb enhance price
discovery, order execution and trade workflows while allowing for
greater scale and helping to reduce risks in client trading
operations. Tradeweb serves more than 2,500 clients in more than 70
countries. On average, Tradeweb facilitated more than $1.5 trillion
in notional value traded per day over the past four quarters. For
more information, please go to www.tradeweb.com.
Alphaledger Disclosures The information provided
herein is not directed at any investor or category of investors and
is provided solely as general information about our products and
services and to otherwise provide general education. It is not
intended as an offer or solicitation for the purchase or sale of
any financial instrument or as an official confirmation of any
transaction. Furthermore, no information contained herein should be
regarded as a suggestion to engage in or refrain from any
investment-related course of action as none of Alphaledger nor any
of its affiliates is undertaking to provide investment advice, act
as an adviser, or give advice in a fiduciary capacity with respect
to the materials presented herein. If you are an investor, contact
your financial advisor or other fiduciary unrelated to Alphaledger
about whether any given investment idea, strategy, product or
service described herein may be appropriate for your
circumstances.
Securities transactions will be conducted through Alphaledger
Markets, Inc, “ALM” a broker dealer, registered with SEC, FINRA,
the MSRB and SIPC, and wholly owned by Alphaledger Technologies,
Inc. “Alphaledger”. Check the background of ALM on FINRA’s
BrokerCheck.
Alphaledger is a technology company focused on providing
technology to its subsidiaries and prospective clients. It does not
lend itself to the solicitation of securities activities, as it can
only be done by prospectus and via a registered broker dealer such
as ALM.
Transfer agent services in the U.S. are provided by Alphaledger
TA, LLC. Alphaledger TA, LLC is registered with the SEC as a
Registered Transfer Agent.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240523375862/en/
media@alphaledger.com