Adhara and ioBuilders Join Forces to Lead in Blockchain Software for Financial Institutions
Adhara and ioBuilders Merge for Blockchain Innovation
In a significant move for the financial technology sector, Adhara and ioBuilders have officially merged, paving the way for a powerful independent provider of blockchain-based software products and services aimed at financial institutions. The newly formed company, which will operate under the combined expertise of both organizations, is based in London and boasts profitability with over 120 employees stationed across various countries, including the UK, Spain, South Africa, and Singapore. The firms generate substantial annual revenues exceeding double-digit million euros, primarily by offering a comprehensive suite of products focused on digital cash, tokenized lending, and securities solutions for banks and financial entities.
Adhara, established in 2018, has been at the forefront of developing real-time digital cash and settlement systems, revolutionizing how transactions and asset management are conceived globally. In tandem, ioBuilders has made substantial strides in delivering tokenized financial platforms that comply with regulations across the world. Both companies have pioneered the adoption of enterprise-grade Distributed Ledger Technology (DLT), concentrating on platforms based on Enterprise Ethereum, among others. These cutting-edge technologies—including Ethereum, Hyperledger Besu, and Hedera Hashgraph—are essential in creating regulated digital asset environments due to their robust capabilities in scalability, privacy, and interoperability.
The merger is poised to establish a leading presence in the blockchain domain, as it is already associated with highly regarded global financial institutions such as Santander, BBVA, Deutsche Bank, UBS, and others. The joint company will support major financial infrastructures including SIX/BME and Fnality, while working alongside ecosystem players like Partior, Garrigues, and Deloitte. Their offerings include critical platforms such as DC Commander, DC Issuance, and Asseto Markets, all in active use, which facilitate various applications from issuing deposit tokens and stablecoins to supporting tokenized bonds, loans, funds, and equities.
Notably, Adhara serves as the software partner for Fnality, recognized as the first wholesale digital cash system utilized in commercial operations. The collaboration has provided essential blockchain solutions for settlements, payment processing, and fund distributions, enhancing overall efficiency in financial transactions. ioBuilders adds to this framework by supplying regulatory-compliant platforms designed specifically for digital lending and tokenized securities, which have been implemented by leading banks, asset managers, and financial market infrastructures within Europe.
Carlos Matilla, the CEO of ioBuilders, will take the helm of the newly merged entity, while Peter Munnings from Adhara will serve as COO, and Julio Faura, the founder of Adhara, will assume the role of Chairman. Faura emphasized the importance of this merger, declaring it a critical turning point for the financial sector. He remarked, "With institutions advancing beyond mere proofs-of-concept towards full-scale production, the evident maturation of digital cash and assets is inspiring. The union between Adhara and ioBuilders positions us as the foremost enterprise Ethereum provider, offering invaluable support to clients navigating this digital landscape."
Matilla echoed these sentiments, stating, "This merger marks a substantial leap forward. By merging our proven products in digital cash with advanced real-world asset tokenization solutions and extensive delivery experience, we're setting the stage as a one-stop partner for financial institutions. This collaboration will enable them to transition from pilot phases to active production while fostering greater adoption of Distributed Ledger Technology."
This merger follows a Series A funding round for Adhara, spearheaded by Yabeo and Force Over Mass Capital, with contributions from ConsenSys and others. Joe Lubin, co-founder of Ethereum and Chairman of Consensys Mesh, praised the decision to combine forces with ioBuilders, emphasizing the transformative potential this merger holds for traditional financial operations looking to embrace the power of stablecoins, tokenized deposits, and efficient cross-border payment systems.
Gerrit Seidel, a General Partner at Yabeo, also weighed in, asserting that the merged company will become the preeminent blockchain technology provider for financial institutions globally, with the capability to challenge existing banking software developers.
As this historic partnership moves forward, it will need to clear regulatory approvals before fully establishing itself as a leader in the blockchain landscape, marking the next chapter in the evolution of financial technology.
Both Adhara and ioBuilders are committed to growing their reach and effectiveness in reshaping the financial ecosystems they serve as they embark on this transformative journey together.