London Stock Exchange Group (LSEG) revealed today that it had invested in London-based cryptocurrency startup Nivaura, leading a GBP 15 million (USD 20 million) funding round.

The investment was revealed in a joint statement from the two companies which acknowledged LSEG had paid an undisclosed amount for a minority stake.

Nivaura was the company responsible for the world’s first cryptocurrency-denominated bond issuance back in November 2017, offering clients a platform to manage corporate bonds, loans, and equity, whilst giving the option to settle transactions via digital tokens.

Through the use of tokens, Nivaura says it can provide a solution up to 80% faster than traditional options while proponents have argued the tokenization of debts is far more economical and can give smaller companies greater access to capital markets.

LSEG’s investment indicates the continually growing interest in blockchain and cryptocurrencies from mainstream finance, despite much negative rhetoric that emerges from the very same sector.

Earlier this month JP Morgan announced the launch of its own digital tokenpegged to USD, targetting institutional clients that are looking to reduce the typical settlement time of transactions. Despite being USD-pegged, the multinational investment bank says it is not a stablecoin, nor should it be considered legal tender.

JP Morgan’s apparent U-turn regarding its attitudes towards cryptocurrencies has been controversial for many in the community, with Jerry Brito – executive director at Coin Center telling Market Watch ”it’s not public, and it’s not permissionless, so it’s not a cryptocurrency”.