Washington D.C-based Securrency, a blockchain-powered financial services firm, has recently secured $17.65m in its series A funding round led by New York-based WisdomTree Investments as a strategic investor.
By investing and collaborating with Securrency, WisdomTree is planning to integrate its blockchain technology into the exchange-traded fund (ETF) ecosystem to bring the benefits of ETFs to a wider range of investors and improve the investor experience.
Abu Dhabi Investment Office, Japan’s Monex Group and VC firms RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments, also participated in the fundraising round.
Jonathan Steinberg, WisdomTree Founder and CEO, 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.”
This is by no means the only blockchain funding news to come out of New York in recent weeks. BaaS solutions provider Horizon raised $5 million in December in a series A funding round to further enhance and boost the operations of its proprietary technology. The company offers full-stack digital securities issuance, compliance, and secondary trading technology which it markets to licensed, regulated financial institutions globally.
Two months earlier, BlockApps announced the successful completion of its series A funding round to focus its mission on providing an enterprise-grade blockchain platform. BlockApps aims to help industries create blockchain-based business networks. It would use the raised funds in the healthcare, energy, agriculture, and travel industries.
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