Blockchain startup Securrency raised $17.65 million in a Series A funding round.

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WisdomTree announced that it made a strategic investment in Securrency and aims to use the company’s technology to the exchange-traded funds’ ecosystem. Abu Dhabi Investment Office was the second-largest investor in the round with $5.4 million. Other strategic investors that participated include Monex Group, and venture capital firms RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments. Internships and jobs are constantly increasing in the blockchain sector all over the world.

 

WisdomTree would apply Securrency’s technology to the ETF ecosystem.

The startup’s technology solves the challenges of tokenizing that WisdomTree wants to utilize in its business. Securrency’s blockchain-based financial and regulatory technology has a built-in compliance framework that makes it easier to tokenize securities. The startup intends to use the new funding to further develop its blockchain-based ETF services. Securrency also revealed that it would continue to build relationships with tangential firms like government-backed ADIO.

 

“We have identified areas for innovation within the ETF ecosystem.”

The CEO and founder of WisdomTree, Jonathan Steinberg, said that using this technology, they believe they have identified areas for exciting innovation within the ETF ecosystem and in financial services more broadly, all with a focus on complying with the highest standards of regulation. Securrency co-founder and COO John Hensel told International Business Times that they are working closely with WisdomTree to deliver regulatory-compliant financial instruments that are representatives of the asset types that they currently offer in the market and therefore bridging the legacy financial services environment to distributed ledger environment.

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Arun is a writer by day and a reader by night. He is on a mission to stamp out gobbledygook and to highlight the insider stories about startups and entrepreneurs around the country.

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