Goldman Sachs, JPMorgan Chase and others invested tens of millions of dollars in blockchain company Axoni

According to Reuters, several financial institutions including Goldman Sachs, JPMorgan Chase, and ICAP, an electronic interdealer brokerage firm, are finalizing an investment in blockchain startup Axoni. According to people familiar with the matter, the amount of this round of financing will be between US$15 million and US$20 million, and the news is expected to be announced this week.

Axoni representative declined to comment when contacted.

Axoni is a New York-based technology company that helps banks and other institutions develop blockchain software to run capital markets processes.

Over the past six months, the company has run some high-profile experiments in partnership with some of the biggest names in the financial industry, for applications such as credit default swaps (CDS) and post-trade processing for foreign exchange transactions.

It is worth noting that Axoni's competitor R3CEV reduced its financing target from US$200 million to US$150 million a month ago, and Goldman Sachs and JPMorgan Chase, the initial members of the R3CEV blockchain alliance, have successively withdrawn from the alliance.

In February, Goldman Sachs and JPMorgan Chase participated in a $60 million funding round for Digital Asset Holdings (DAH), a New York-based blockchain company led by former JPMorgan commodities head Blythe Masters.

In October, Axoni announced that nine financial institutions had successfully tested its blockchain prototype software, including Barclays, Credit Suisse, JPMorgan Chase, Citigroup, Thomson Reuters and others.

Earlier this year, Axoni tested a blockchain service for foreign exchange trading with ICAP, and it has also partnered with another group of companies to run a post-trade processing application for credit default swaps.