Leading blockchain-based platform Securitize has received a whopping $14 million in the fresh round of funding via backers such as Nomura Holdings, MUFG, and Banco Santander. Securitize has emerged as a leading global solution for generating and handling compliant digital securities on the blockchain.
According to the press release, Securitize has asserted that latest round of funding is an addition of its Series A round where it managed to raise approximately 12.75 million in November 2018. With this, it has brought its entire financing to a total of over $30 million.
Securitize’s investment round received immense support from the three biggest banking giants of the world namely Banco Santander, MUFG, and Nomura Holdings. Apart from this, investors from Existing Series A, SPiCE VC, SeedRocket4Founders, and Blockchain also took part in the latest round of funding.
Securitize clarified that it seeks to utilize the amount raised for the development of its technology platform that will assist in modernizing the legacy securities industry.
Carlos Domingo, Co-Founder and CEO of Securitize said, “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 came into existence in the year 2017 and has expertise in issuing and handling digital securities on the blockchain platform, which may include distributions, dividends, and share buy-backs. Earlier in August 2019 Securitize got itself registered with the US Securities and Exchange Commission also known as SEC as a transfer agent.
Securitize says that its DS Protocol which obediently handles the secondary trading and corporate works for digital securities has achieved the maximum adoption rate in the industry at present with five tradings on public marketplace, 11 digital securities being issued, and few more to be issued soon.
Earlier at the beginning of 2019, submission policy for digital securities Securitize had joined the IBM Blockchain Accelerator program in a bid to form a debt issuance policy with the help of blockchain technology.
According to the report, the blockchain technology has emerged as an effective mean through which monetary management can fight debt issues. Author of Blockchain Revolution book Alex Tapscott felt that loan deception became one of the major reasons of bad debt.