Blockchain-Based Platform Securitize Receives $14 Million in Backing

Blockchain-Based Platform Securitize Receives $14 Million in Backing
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Securitize, a self-described “global solution for issuing and managing compliant digital securities on the blockchain,” has just brought in $14 million via backers like Banco Santander, MUFG, and Nomura Holdings. The three of these are some of the biggest banks in the entire world.

According to a press release, the money is being used to develop Securitize’s platform “to modernize the legacy securities industry.”

The CEO and co-founder of Securitize, Carlos Domingo, shared some thoughts on the matter:

“Bringing on key strategic investors like Santander InnoVentures, MUFG, and Nomura, as well as leading blockchain investors, validates how transformative digital securities are for traditional financial markets. Their investment in Securitize ensures that we can continue to drive adoption and innovation with our execution and industry-leading technology.”

Securitize’s “DS Protocol” handles secondary trading and corporate actions for digital securities, the release reads. And, it has the highest adoption rate in the entire industry, sporting 11 digital securities and is even trading on five cryptocurrency trading exchanges. There are plans to move to even more trading platforms soon.

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Manuel Silva Martínez, a Partner and Head of Investments at Santander InnoVentures (Banco’s investment arm), said:

“As we bet on companies that are reengineering core pieces of our industry’s infrastructure through blockchain technologies, Securitize is an obvious addition to our portfolio that further enables Santander taking part in the nascent digital securities markets. We are excited to work with Carlos and his team to revolutionize the capital markets industry together.”

Finally, Nobutake Suzuki, the President and CEO of MUFG, shared some thoughts as well:

“Digital securities are increasingly becoming a leading use case for distributed ledger technologies within the financial services industry. Securitize has emerged as a leading solutions provider within this rapidly growing space. Through our investment in Securitize, MUIP is seeking to establish a strategic relationship and promote further collaboration in the future.”

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Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/

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