Securitize, a Blockchain startup in the field of security tokens, announced the closure of a funding round Series A, during which it raised $12.75 million with support from Coinbase and Blockchain Capital.
The round was led by Blockchain Capital, whose co-founder and managing partner Brad Stevens also joined the board of directors of Securitize. Coinbase Ventures, venture capital divisions Ripple (Xpring) and OKEx (OK Blockchain Capital), Global Brain and NXTP also took part in financing the startup.
As Securitize CEO Carlos Domingo said, the funds received will help the company attract competent investors in anticipation of the launch of its proposal for security tokens. According to him, Securitize aims to transfer the securities industry, currently valued at $7 trillion, to the Blockchain, since this technology is a more transparent and alternative suitable for audits, and also allows real-time transactions.
It is noted that Securitize has already begun issuing digital securities for companies such as 22x, SPiCE VC and Augmate, as well as a security token BCAP for Blockchain Capital. Digital securities based on the project protocol are traded on the AirSwap and OpenFinance Network exchanges in accordance with the requirements of regulators. Xpring senior vice president Iten Bird said that the interests of Ripple include tokenized securities as well.
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