State Street Corp., the second-oldest continually operating United States bank, in a partnership with S&P Global Inc. joined a $15 million funding round for Lukka Inc.
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Besides two large financial institutions, a unit of the US accounting association AICPA also joined the investing round. Robert Materazzi, Lukka’s Chief Executive, told Bloomberg the investments will help the company to scale its services.
"This going to be a scaling phase for us. It is focused on driving revenue," Materazzi added.
Lukka's CEO says the company wants to extend support for fiat currencies so that traditional business could use all the potential of blockchain data.
At the same time, Lukka is working on a cryptocurrency indexes in a collaboration with S&P Dow Jones Indices (S&P DJI). S&P DJI will provide branded and customized indexing and benchmarking solutions provided by Lukka's crypto asset pricing feed.
It is anticipated that the new crypto index will make simplify for investors to access the crypto market while potentially mitigating some common risks associated with this traditionally speculative market.
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