Securitize supported by Coinbase and Ripple with $13m funding
Securitize, a US-based firm that tokenises assets and traditional securities, has received $12.75 million investment from the likes of Coinbase and Ripple, among others.
The Series A funding round was led by San Francisco-based VC firm Blockchain Capital. Coinbase Ventures, Ripple, NXTP, and Global Brain Corporation have also invested.
The funding round will help Securitize prepare for its planned launch of a digital security offering (DSO) next year.
The firm aims to bring real-time transactions and transparency to the securities market through the use of blockchain.
Securitize CEO and co-founder Carlos Domingo says the firm will also be developing its investor relations, increasing liquidity, promoting compliance, and keeping up with their capital.
However, the company says it seeks more than just blockchain action. Domingo says: “These are first movers, but the big opportunity is in digitising private and public shares. 2019 will be the year that you see ten to 15 exchanges trading securities in a legal way.”
Brian Armstrong, CEO of Coinbase, says the exchange was looking to be a marketplace for buying and trading crypto securities.
Securitize will be in charge of developing tokens and regulatory compliance via the DSO. Cryptocurrency exchanges, namely Coinbase, will still have a role as trading platforms.
Blockchain Capital’s co-founder and managing partner, Brad Stephens will join Securitize’s board of directors.
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