- Euroclear and Singapore’s Marketnode have integrated their fund systems, FundsPlace and Fundnode.
- The partnership allows wider fund distribution and settlement for investors in Singapore and beyond.
- Fundnode leverages blockchain to automate processes and speed up settlement times.
- Statistics show Singapore managed $4.2 trillion in assets in 2023, with most coming from outside the country.
- Euroclear continues expanding into digital solutions, participating in several tokenization initiatives worldwide.
Euroclear and Singapore-based Marketnode have combined their fund platforms, FundsPlace and Fundnode. The move was announced today and aims to improve fund distribution and settlement capabilities for both retail and institutional clients in Singapore.
With this integration, FundsPlace users can now reach new markets in Singapore through Fundnode, and Marketnode’s clients gain access to a larger pool of international funds.
According to recent figures, Singapore managed $4.2 trillion in assets in 2023, with 77% of that coming from outside the country. Europe made up 13% of the share, Asia excluding Singapore held 33%, and North America contributed 20%.
Fundnode, which launched in the second quarter of 2024, is described as a blockchain-based settlement infrastructure. Blockchain technology helps automate transactions, maintain a single record of activity, reduce duplicate recordkeeping, and speed up settlement times.
The platform was developed with support from the Monetary Authority of Singapore (MAS) and the Singapore Funds Industry Group (SFIG).
“This milestone marks an important step in our journey as we continue to scale our funds market infrastructure in Asia-Pacific and beyond. The integration with Euroclear FundsPlace will provide our clients with a powerful toolset to unlock new business opportunities in public and private funds,” said Marketnode CEO Rehan Ahmed in a statement.
Euroclear, which supports over 250,000 funds from 2,500 asset managers, has invested in Marketnode and continues to broaden its presence in digital finance. The company also recently invested in the French fund platform IZNES and worked with Digital Asset to explore tokenized collateral.
Its involvement includes digital issuance projects with the World Bank and participation in tokenization pilots like Singapore’s GL1 blockchain, Hong Kong’s Project Ensemble, and the UK’s Digital Securities Sandbox.
As the financial sector moves towards more digital processes, Euroclear and other infrastructure providers, such as Clearstream and DTCC, are advocating for standards in digital asset management and tokenization. These steps aim to ensure that central securities depositories remain central to the evolving asset management environment.
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