Citi Invests in Blockchain Startup Axoni's Series A Round

Global financial institution Citi has invested in distributed ledger startup Axoni, the company announced today.

Though the exact amount wasn’t disclosed, Axoni said the bank’s contribution brought its Series A round from $18m to more than $20m.

Axoni announced in December that it had raised funds from a group of investors including Wells Fargo, Euclid Opportunities, Andreessen Horowitz, Goldman Sachs, JP Morgan, Thomson Reuters, Digital Currency Group, FinTech Collective and F-Prime Capital Partners.

The bank is also playing a role in Axoni’s work on a new distributed ledger solution for the Depository Trust & Clearing Corporation (DTCC). Announced in January, the project is centered around replatforming DTCC's existing Trade Information Warehouse (TIW) by utilizing the tech.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Axoni.