Regulated token issuance technology provider Securitize has raised $14 million from investors including the investment arms of major financial companies.
Securitize announced in a press release Tuesday that the funding - an extension of its Series A round - was backed by Santander InnoVentures, MUFG Innovation Partners and Nomura Holdings.
The firm plans to use the cash injection to carry on developing its technology platform with the grand aim of "Modernizing the legacy securities industry."
The $14 million investment brings Securitize's total funding to date to over $30 million, according to its own figures.
"Bringing on key strategic investors like Santander InnoVentures, MUFG, and Nomura, as well as leading blockchain investors, validates how transformative digital securities are for traditional financial markets. Their investment in Securitize ensures that we can continue to drive adoption and innovation with our execution and industry-leading technology."
The firm was notably approved by the U.S. Securities and Exchange Commission to act as a transfer agent and official keeper of records on changes of securities ownership late last month.
Securitize's DS Protocol, the firm says, allows the management of secondary trading and corporate actions for digital securities.
Explaining why Santander is backing the firm, Manuel Silva MartÃnez, partner and head of investments at Santander InnoVentures said the firm is "Betting" on companies that are "Reengineering core pieces of our industry's infrastructure through blockchain technologies." Securitize will boost the bank's ability to take part in the digital securities market, he added.
A sizable contingent of Asian investors were also involved in the funding round, including the venture arm of major Japanese telco KDDI, the innovation arm of Japanese real estate developer Mitsui Fudosan, Hong Kong-based blockchain venture firm Kenetic Capital and China-based blockchain investment firm Fenbushi Capital.
Securitize suggested the group highlighted a "Growing appetite" for digital securities in the region.
Token Tech firm Securitize Raises $14 Million From Santander, MUFG, Nomura
Published on Sep 24, 2019
by Coindesk | Published on Coinage
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