Digital Asset Holdings Raises $120 Million
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22 April
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Digital Asset Holdings, a company focused on enterprise blockchain, has raised $120M through a Series D funding round.

The company has reported investment firms 7Ridge and Eldridge participated in the fundraising. As a result, former Deutsche Börse director Carsten Kengeter and Veronica Augustsson of 7Ridge have joined Digital Asset's board of directors.

According to Digital Asset, the funds will be used to expand its team by 50% and develop a new protocol for interaction between distributed networks and traditional databases.

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The company's main product is the open source smart contract language DAML, which works with both blockchains and centralized databases. The solution is being used by the Australian Securities Exchange (ASX), banking giant BNP Paribas, Hong Kong financial holding company Exchanges and Clearing and tech firm Change Healthcare. Digital Asset CEO Yuval Rooz said:

"Without Daml, workflows cannot be shared privately and securely within and across organizations, leading to inconsistent data, expensive to adapt architectures, and a lack of common interfaces."

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