Axoni Closes $32 Million Funding Round Led by Goldman Sachs

Axoni, a New York-based enterprise provider of blockchain technology, has completed a $32 million Series B funding round.

The funding round was announced on Axoni's official blog, Aug. 14.

Founded in 2013, Axoni specializes in delivering distributed ledger technology to a variety of leading financial institutions.

The company uses their AxCore technology in a plethora of markets including high-volume foreign exchanges and derivatives.

"Our strategic partners have been critical to our success so far; we are delighted to strengthen and expand those relationships with this financing as we continue to deploy Axoni's technology."

Moving forward, Axoni will utilize the funding to expand its suite of infrastructure products to enhance its data synchronization technology, according to the official release.

"The adoption of distributed ledger protocols in capital markets resembles the early days of adopting TCP/IP for distributed enterprise applications. We continue to be impressed with Axoni's ability to facilitate such adoption by identifying use cases that could benefit from blockchain technology."

"Axoni has established itself as a market leader in enterprise blockchain, delivering solutions that can be used at scale across financial markets. We are pleased to work with them as they execute their strategy."

In the midst of a cryptocurrency bear market, it is reassuring to hear words of reinforcement from high-ranking executives at financial institutions like Goldman Sachs and Wells Fargo.

While the cryptocurrency market is significantly lower than it was in January, it's still astronomically higher than it was a few years ago, and a slow but steady increase in price is better in the long run for the market than rapid price inflation.