WisdomTree leads Securrency’s $17.65M Series A round, aims to bring blockchain tech to ETFs
Wed, 08 Jan 2020, 04:41 am UTC
Securrency, a provider of institutional-grade blockchain-based financial and regulatory technology, has raised $17.65 million in a Series A funding round led by WisdomTree Investments.
Abu Dhabi Investment Office through its Ventures Fund, Japanese financial services giant, Monex Group, Inc., and venture capital firms RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments, a venture arm of Fujairah Holding, also participated in the round.
Securrency plans to use the fresh funding to advance its software and platform development, integrate with key strategic partners and other customers, and build out its operational structure.
Founded in 2015, U.S.-based Securrency provides blockchain-based financial markets infrastructure technology centered on its unique identity and compliance framework to support global digital securities transactions. Its patent-pending Compliance Aware Token technology provides multi-jurisdictional compliance to financial services providers and market participants to facilitate the issuance, trading, and servicing of digital securities and other digital assets.
“We have been building over the past several years a unique framework that is not restricted to one blockchain or platform in order to allow for the remarkable innovations across this space to come together in a way that encourages the major institutions, market makers, and other market players to swiftly and confidently transition into this new technological paradigm,” said Dan Doney, CEO of Securrency.
Bringing blockchain to ETFs
WisdomTree, an exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager, said that it will collaborate with Securrency to integrate blockchain technology into the ETF ecosystem in order to bring the benefits of ETFs to a broader range of investors and improve the investor experience.
In a press release, WisdomTree said that certain elements of blockchain technology can be incorporated into the existing ETF ecosystem to expand the audience for ETFs and improve investors’ experience.
Jonathan Steinberg, WisdomTree Founder and CEO, said the firm’s investment in Securrency was based on 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,” he added. “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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