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Photo: Securitize / Twitter
Securitize is a company that assists other companies with traditional assets and securities.
The funding round will help Securitize prepare the planned Digital Security Offering (DSO) launch next year. According to the statement, the company believes that the decentralized registers have the capacity to bring instant transactions and transparency in the securities market.
In addition, Securitize also believes that it is the most ready market compliance platform for the primary issue and the management of the life cycle of digital securities. This is because he has worked on projects such as 22x, SPiCE VC and Augmate.
The CEO and co-founder Carlos Domingo said that with the new loans, the company also wants to work on its relationships with investors, increasing liquidity, promoting compliance and maintaining its capital.
He said:
"Not only will they provide support for Securitize as we will continue to operate at the highest level of our industry, but will also be instrumental as we prepare to tokenise Securitize for our digital stock offering."
He added that the opportunity is not just to work with blockchain companies:
"These are the first engines, but the great opportunity is in the digitization of private and public shares […] 2019 will be the year you will see 10-15 securities trades legally. "
There are a number of high-profile companies within the cryptocurrency space that have already invested in Securitize. The startup itself raised $ 12.75 million in a series A round of financing led by Blockchain Capital, a company based in San Francisco. Coinbase Ventures, Ripple, NXTP and Global Brain Corporation have also invested.
Brian Armstrong, CEO of Coinbase, had admitted that the exchange was trying to be a de facto market to buy and exchange encrypted securities.
The emergence of Securitize can help realize the dream of tokenize actions with blockchain to provide greater transparency, liquidity and efficiency. Securitize will be responsible for developing tokens and regulatory compliance in a process called "Digital Security Offering". The cryptocurrency exchanges, in particular Coinbase, will still have a role as trading platforms.
Blockchain Capital's co-founder and managing partner, Brad Stephens, who led the $ 12.75 million strategic financing round for digital sstartup, will be joining Securitize's board of directors.
Stephens noted in the press release that "Securitize's real-time compliance solution solved a critical requirement for our BCAP security token", a token based on the Ethereum blockchain (ETH) and launched in April 2017 through an Initial Coin Offering (ICO).
The press release states that the digital securities market is worth more than $ 7 trillion a year. Other "strategic investors" in Securitize include Donna Redel, former Managing Director of the World Economic Forum and blockchain professor, and John Pfeffer, formerly a partner of the global investment company KKR.
Because of their inclusion during the financing round, the co-founder and managing partner of Blockchain Capital, Brad Stephens, will be part of the board of directors of Securitize. The other participants in the financing round included Coinbase Ventures, Global Brain, Ripple's XPring, OK Blockchain Capital and NXTP.
So far, there are more digital titles that the company has issued, like 22x, SPiCE VC, Augmate and the BCAP security token (from Blockchain Capital). Some of the company's digital titles have already been placed on both AirSwap and OpenFinance networks, while maintaining regulatory compliance.
At the time of writing, Coinbase got the news that they are losing control of politics at a time when communication between Washington and the digital money industry may never be more important.
Michael Lempres, who was appointed head of corporate policy in September after working for more than a year as head of attorney, is about to take on a new role in Andreessen Horowitz, according to a strictly held exchange statement. The venture capital company was an early investor in Coinbase.
