Adhara and ioBuilders have joined forces to form a leading independent provider of blockchain-based software products and services for financial institutions. The new company, headquartered in London, is profitable, with over 120 employees across the UK, Spain, South Africa, and Singapore, and generates double-digit million euro revenues annually. It offers a full product suite in digital cash, tokenized lending, and securities – helping financial institutions move from proof-of-concept to production.
Adhara, established in 2018, has pioneered real-time digital cash and settlement systems globally. Founded in 2018, ioBuilders has delivered tokenized financial platforms for regulated institutions worldwide. Both companies were early adopters of enterprise-grade Distributed Ledger Technology (DLT), with a strong focus on Enterprise Ethereum based platforms. These technologies — including Ethereum, Hyperledger Besu, and Hedera Hashgraph — have become foundational for regulated digital asset systems due to their maturity, ecosystem depth, and ability to support the scalability, privacy, and interoperability requirements of financial institutions.
The new entity has already been publicly associated with leading global financial institutions such as Santander, BBVA, Deutsche Bank, UBS, DTCC, IDB, Lloyds, Allfunds, and Renta 4 Banco; as well as financial market infrastructures like SIX/BME and Fnality; and ecosystem players including Partior, Garrigues, Deloitte, Fireblocks, Ownera, and Hedera. With operations across EMEA, the Americas, and Asia, its platforms – including DC Commander, DC Issuance, and Asseto Markets – are in production, supporting use cases from deposit token and stablecoin issuance to tokenized loans, funds, bonds, and equities.
Adhara is the software partner for Fnality, the first wholesale digital cash system in commercial use. It has delivered blockchain-based systems for settlement, payments, and fund distribution. ioBuilders complements this with regulatory-grade platforms for digital lending, and tokenized securities, used by leading banks, asset managers and financial market infrastructures across Europe.
Carlos Matilla, CEO of ioBuilders, takes the role of CEO of the combined entity. Peter Munnings, co-founder of Adhara, becomes COO, and Adhara founder Julio Faura assumes the role of Chairman.
“This is a pivotal moment for the financial industry”, Julio Faura, CEO at Adhara, said. “With banks and financial market infrastructures moving beyond PoCs into production, the maturity of Digital Cash and Digital Assets is clear. Adhara and ioBuilders together create the leading enterprise Ethereum provider helping clients thrive in this digital era.”
Carlos Matilla, CEO of ioBuilders, said: “Bringing together Adhara and ioBuilders is a big step forward. By combining proven digital cash products with real-world asset tokenization platforms and deep delivery experience, we’re creating a one-stop partner for financial institutions to move from pilot to production and drive DLT adoption.”
This transaction follows Adhara’s Series A round led by Yabeo and Force Over Mass Capital, with participation from ConsenSys and others.
“As one of the earliest incubated projects at Consensys Mesh, Adhara saw the potential to transform TradFi before most. By bringing them together with ioBuilders, the combined talent and products are well positioned to capitalize on the new banking order that now sees the power of stablecoins, tokenized deposits and cross-border payments”, said Joe Lubin, co-founder of Ethereum and Chairman of Consensys Mesh. “We look forward to Adhara’s future partnerships that collectively expands our ecosystem and client efficiencies”.
Gerrit Seidel, General Partner of Yabeo adds: “The merged company is the leading bank-to-bank blockchain technology provider worldwide and bound to replace incumbent banking software players in the next years.”
