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Coinbase backs security token startup’s $12.7 million funding round

Securitize, which is a Security token start-up made an announcement on Monday that it has raised about $13 million. The huge sum was raised by the company in the Series A of funding.

This funding was a part of the mission of the company under which it will be digitalizing the traditional security products that are on a blockchain.

The equity investments were led by the Blockchain Capital. The intent of the investment was to help the company grasp some “knowledgeable investors”.

Source: blockboard.net

According to the CoinDesk, the CEO of Securitize told it that this was because the company was preparing for offering of the security token.

The further aim of the company includes streamlining the relations of the company with the investors along with building up liquidity as well as compliance efforts. It also aims to maintain its capital formation.

The statup further stated that as a part of the deal, the co founder of the Blockchain Capital who is also the managing partner, Brad Stephens will be joining the board of directors of Securitize.

Some other firms which participated include Coinbase Ventures, Global Brain, NXTP as well as Ripple’s Xpring and OKEx’s Ok Blockchain Capital.

Source: coindesk

The security industry’s current estimated worth is close to $7 trillion.

According to Domingo the company is willing to transition the securities industry in order to decentralize the ledgers because they are more transparent and even auditable and can even facilitate transactions instantaneously.

The company has already started issuing digital securities for firms like 22x along with Augmate and even BCAP of Blockchain Capital and SpiCE VC.

The digital securities that are based on the protocol of the company are also being traded on AirSwap and even on the OpenFinance Network in a manner that was regulatory compliant.

Source: CoinDesk, Investing

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Written by Ketakee Srivastava

I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

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