An American securities token startup closed a Series A round of Blockchain Capital funding that raised $ 12.75 million, according to a press release shared exclusively with Cointelegraph on November 26th.
Securitize, a technology platform that allows the issuance of digital securities – or security tokens – of any business, has closed its strategic financing in view of the company's plans for launching a digital security offering (DSO) ) in 2019.
The round also included the participation of Coinbase Ventures, Global Brain, NXTP, OK Blockchain Capital and Ripple's Xpring.
Blockchain Capital's co-founder and managing partner, Brad Stephens, who led the $ 12.75 million strategic funding round for the launch of digital titles, 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.
In this spring, Coinbase, a cryptocurrency and wallet, launched Coinbase Ventures, a fund designed to "simply help the most compelling businesses in space to thrive," Cointelegraph reported on April 6.
Prior to August, SFOX, a cryptocurrency trading platform, closed a $ 22.7 million series A round of financing with the participation of Blockchain Capital and Y Combinator among other industry giants, Cointelegraph wrote on August 16 .