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.
Byinvesting and collaborating with Securrency, WisdomTree is planning tointegrate its blockchain technology into the exchange-traded fund (ETF)ecosystem to bring the benefits of ETFs to a wider range of investors andimprove the investor experience.
AbuDhabi Investment Office, Japan’s Monex Group and VC firms RRE Ventures,Strawberry Creek Ventures, and Panthera Capital Investments, also participatedin the fundraising round.
JonathanSteinberg, WisdomTree Founder and CEO, said: “Our investment in Securrency isthe result of a multi-year review of blockchain technology and the associatedlandscape. In our review, we found instances of unnecessary applications of thetechnology and poor compliance with existing regulations; however, there arenumerous elements of blockchain technology that, when correctly applied, willbring benefits to investors. Using the technology, we believe we haveidentified areas for exciting innovation within the ETF ecosystem and infinancial services more broadly, all with a focus on meeting the higheststandards of regulation.”
Thisis by no means the only blockchain funding news to come out of New York in recentweeks. BaaS solutions provider Horizonraised $5 million in December in a series A funding round to further enhanceand boost the operations of its proprietary technology. The company offersfull-stack digital securities issuance, compliance, and secondary tradingtechnology which it markets to licensed, regulated financial institutionsglobally.
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.
