It is just recently that an individual start-up company by the name of Digital Asset Holding LLC Monday has claimed to raise almost $40 million only for the sole purpose of building the blockchain platforms for different financial corporations. A revolutionary move indeed!
The buzz produced by this action created a storm in the field of trading and connected areas. By the support from the major banks and funding agencies, the start-up has managed to collect an enormous amount and continued to expand more and more, all over the world.
Aims Of The Start-up
This particular company is said to have a goal to improve certain aspects of the various financial systems such as creativity, efficiency, compliance and most important the settle speed within the systems.
The custom-made application of the business logic of this start-up uses the more private forms of networks to establish an infrastructure that is a secured and an unfilterable one. Their primary goal is to make sure that an improvement of the security and processing of the post-trade processing is established.
This has been the long seen dream of many financial institutions, and Digital Assets has seen to it that it gets fulfilled. And for that, this company delivered software that apparently reduces the errors, risk, costs and other related capital requirements for the better building of a secured structure.
The Success Of The Digital Assets
Led by the much respected former Managing Director of the JP Morgan Chase, Blythe Masters, this digital start-up has guaranteed its success as a platform for the development of the financial shape of the blockchain platforms. And for the starters, it has started an attaining marathon by buying of the other projects of blockchain serves such as Bits of Proof, Hyperledger, Elevance, Blockstack and much more such options for providing better results to the customers.
Apart from that, Digital Assets has also signed various partnership agreements with different exchanges and agencies. The one that has come to the limelight is that next deal in 2016 with the Australian Stock Exchange. The result of this particular agreement is said to ensure the speedy settlement of the exchange. A similar kind of deal of using the blockchain to safeguard the original solution on the trade has also been made with the JP Morgan Chase, which almost has the same benefits.
Also, among the many famous deals, the one with the Depository Trust & Clearing Corp has been an effective one. Done in March 2016, this particular contract with the influential Trust made sure that the funding for the blockchain platforms doesn’t come to an end.
Apart from the fundraising announcement, Digital Asset has added another feather to their cap of efficiency by hiring the co-chief tech officer at Two Sigma Investments, Clyde Rodriguez.
This new round of funding, along with the previous series make the total financing of Digital Asset up to a striking $100 million till now. This round, directed by Jefferson River Capital included various investors both new and former ones as well.
Although they didn’t reveal the entire agenda, it is said that the main aim of collecting of this funding is to increase the team of the start-up company.