Launched in San Francisco, a startup, Securitize, which helps firms label their securities and assets, has managed to secure financing in the amount of $ 12.75 million USA. Blockchain Capital led the A round series with the participation of the Xpring Foundation and Coinbase Ventures. The last two names are also important. They are Ripple’s and Coinbase investment weapons.
According to the report, a startup aims to mark the $ 7 trillion securities industry, which Securitize calls Digital Security Offering (DSO).
The company intends to use the funds to create an engineering team and expand operations around the world, including the Asia-Pacific region and Latin America.
Founder and CEO of Securitize, Carlos Domingo, believes that moving securities on the blockchain will provide transparency and facilitate instant transactions and settlements. He commented as part of the announcement that “blockchin simply turns out to be the best way to handle securities. A big opportunity is to digitize private and public events. ”
To forge its securities, Securitize worked with 22x, Augmate and SPice VC (Ving Domingo). The start-up intends to focus on its tokenization platform instead of creating its own trading platform. However, Securitize may soon work with several exchanges on top of this.
Since Coinbase and Ripple deal with aspects of US securities laws, these investments from both firms appear to be strategic. Especially at that moment when the SEC in the States limits less scrupulous projects that violated its laws.