Juzhen rakes in $23m in largest Asian blockchain round

Blockchain post-trade startup Juzhen Financials has raised $23m in a Series A round of funding.

The investment was led by Wanxiang Holdings with its own blockchain-focused investment subsidiary Fenbushi Capital also participating.

The round is the largest raised by an Asian blockchain startup, according to CoinDesk’s data.

The two-year old Shanghai-based company is headed up by Union Pay veteran Lilin Sun.

It says it will use the capital to continue its development of clearing and settlement solutions built on distributed ledger technology.

Juzhen aims to work with established banks targeting the post-deal market that includes potential clients such as custodian banks, clearinghouses, exchanges and deal brokers.

It claims to already work with Webank and regional blockchain consortium ChinaLedger.

Copyright © 2016 FINTECH GLOBAL

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