A Blockchain Capital co-founder has led a $12.75 million Series A funding round for a digital securities startup based on blockchain technology.
An American securities tokens startup has closed a Series A funding round led by Blockchain Capital that raised $12.75 million, according to press release exclusively shared with Cointelegraph Nov. 26.
Securitize, a technology platform that enables the issuances of digital securities — or security tokens — of any asset, has closed the strategic funding round ahead of the company’s plans to launch a Digital Security Offering (DSO) in 2019.
Blockchain Capital’s co-founder and managing partner, Brad Stephens — who led the $12.75 million strategic funding round for the digital securities startup — will join Securitize’s Board of Directors.
Stephens noted in the press release that “Securitize’s real-time compliance solution solved a critical need for our BCAP security token,” which a token based on the Ethereum (ETH) blockchain and launched in April 2017 through an Initial Coin Offering (ICO).
The press release claims that the digital securities market is worth over $7 trillion annually. Other “strategic investors” in Securitize include Donna Redel, the World Economic Forum’s former Managing Director and blockchain professor, and John Pfeffer, formerly a partner at global investment firm KKR.
Back this spring, Coinbase, a crypto exchange and wallet, had launched Coinbase Ventures, a fund aimed “simply to help the most compelling companies in the space to flourish,” as Cointelegraph reported Apr. 6.
Previously in August, SFOX, a cryptocurrency trading platform, closed a Series A funding round of $22.7 million with participation from Blockchain Capital and Y Combinator among other industry giants, Cointelegraph wrote Aug. 16.
Source: , CoinTelegraph
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