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Securrency will use the funds for further expansion, strengthening strategic partnerships, as well as developing compliant DeFi products.
Market infrastructure technology company Securrency Inc has announced it raised as much as $30 million in its Series B funding round. The success of the round was backed by the participation of many big names. Among them, there were a financial asset manager WisdomTree Investments, a joint venture between Mubadala Investment Company Falcon Edge Capital – Abu Dhabi Catalyst Partners Limited (ADCP), the banking giant State Street, and the US fifth largest banking institution US Bank.
Notably, WisdomTree Investments also heavily invested in Securrency back in January 2020. At that time, Securrency ran Series A round that brought the company $17.65 million.
Securrency Series B Round
According to Securrency CEO Dan Doney, the Series B funding round is a “huge milestone” for the company. They will use the funds for further expansion, strengthening strategic partnerships, as well as developing compliant decentralized finance (DeFi) products.
“Securrency’s core platform will be the rails on which all future value can move securely with real-time settlement and will serve as a bridge linking traditionally disconnected financial markets and ecosystems to enhance speed and efficiency and to drive down costs,” added Doney.
As Securrency said, it has already applied for licenses to establish the business in the Abu Dhabi Global Market (ADGM), an international financial center in the UAE’s capital city.
With the new funds raised, the total investment in Securrency totals over $64 million.
What Is Securrency?
Securrency positions itself as a leading developer of institutional-grade financial and regulatory technology. Advancing blockchain, the company aims to facilitate economic independence via building more accessible financial networks. Besides, it promotes social responsibility through automated regulatory compliance and preserves human liberty and privacy through DeFi services.
Securrency’s Chief Strategy Officer Patrick Campos describes the company as a middleware layer that goes over the top of blockchains and legacy systems and then ties them all together using a common compliance framework.
“We offer optionality. Maybe you like Tezos but you think Ethereum has a bigger community so it’s better to build on. We can create the assets where you need them. So for an institution like State Street, we can connect blockchain systems into their existing systems so that these things just talk to each other,” stated Campos.
The core product of Securrency is the Securrency Interoperating System. This comprehensive core financial services infrastructure platform ensures network interoperability, multi-jurisdictional automated compliance, and configurable decentralized financial services. With the Securrency Interoperating System, issuers, servicers, and traders can create and issue digital assets and automate transaction compliance. They also can manage digital assets and portfolio, establish control locations, configure institutional-grade workflows, as well as connect marketplaces.