Securrency, a blockchain technology developer for the financial and regulatory sectors, has scored $17.65m in its Series A.
WisdomTree Investments led the round as a strategic investor, with additional contributions coming from the Abu Dhabi Investment Office, financial services organization Monex Group, RRE Ventures, Strawberry Creek Ventures and Panthera Capital Investments.
This new equity will be used to further its software and platform development, integrate key strategic partners and customers and build upon its operational structure.
Securrency builds blockchain-based financial markets infrastructure which focuses on identity and compliance to aid digital securities transactions. The platform is an open framework of services and interfaces which enables seamless integration with new and existing infrastructure.
To ensure the issuance, trading and servicing of digital securities and assets is secure, Securrency implements identification, authentication and authorization of individuals and entities. Combining know your customer, know your wallet and know your transaction capabilities, can ensure compliance with regulations.
WisdomTree founder and CEO Jonathan Steinberg said, “Our investment in Securrency is the result of a multi-year review of blockchain technology and the associated landscape.
“In our review, we found instances of unnecessary applications of the technology and poor compliance with existing regulations; however, there are numerous elements of blockchain technology that, when correctly applied, will bring benefits to investors. Using the technology, we believe we have identified areas for exciting innovation within the ETF ecosystem and in financial services more broadly, all with a focus on meeting the highest standards of regulation.”
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