HQLAX closes Series C funding round led by HSBC
19 April 2024 US
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Financial technology firm HQLAX has closed a Series C strategic investment round led by HSBC.
The round includes contributions from existing shareholders such as BNP Paribas, BNY Mellon, Citigroup, Deutsche Börse Group, Goldman Sachs and J.P. Morgan.
HQLAX says the funding will fuel the continued development and expansion of its distributed ledger technology (DLT) platform, and support the growth of its client footprint.
As part of HSBC’s investment in the funding round, Jamie Anderson, head of collateral treasury trading at HSBC, will join the firm’s board of directors.
Anderson comments: “Digital asset innovation is accelerating at pace around the world, which is why I’m looking forward to working closely with HQLAX to enable us to collaboratively build on our strengths as partners, and to optimise liquidity management and collateral management activities.”
HQLAX CEO Guido Stroemer adds: “We are excited to welcome HSBC as a strategic investor. In addition to investing in our company in support of our strategic platform vision, HSBC is also connecting to our platform, both as an agent lender
and as a bank borrower.”
The HQLAX platform enables clients to execute frictionless, precise, and real-time transfer of ownership to meet a wide variety of collateral obligations, the firm says.
It aims to help the securities finance industry address collateral fragmentation by extending its connectivity to leading triparty agents, custodians and market participants.
The round includes contributions from existing shareholders such as BNP Paribas, BNY Mellon, Citigroup, Deutsche Börse Group, Goldman Sachs and J.P. Morgan.
HQLAX says the funding will fuel the continued development and expansion of its distributed ledger technology (DLT) platform, and support the growth of its client footprint.
As part of HSBC’s investment in the funding round, Jamie Anderson, head of collateral treasury trading at HSBC, will join the firm’s board of directors.
Anderson comments: “Digital asset innovation is accelerating at pace around the world, which is why I’m looking forward to working closely with HQLAX to enable us to collaboratively build on our strengths as partners, and to optimise liquidity management and collateral management activities.”
HQLAX CEO Guido Stroemer adds: “We are excited to welcome HSBC as a strategic investor. In addition to investing in our company in support of our strategic platform vision, HSBC is also connecting to our platform, both as an agent lender
and as a bank borrower.”
The HQLAX platform enables clients to execute frictionless, precise, and real-time transfer of ownership to meet a wide variety of collateral obligations, the firm says.
It aims to help the securities finance industry address collateral fragmentation by extending its connectivity to leading triparty agents, custodians and market participants.
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