Categories: News

Digital Asset Holdings Raises $50 Million in Funding Round

Digital Asset Holdings, a developer of financial blockchain applications, announced a successful fundraising round to the tune of $50 million. Participants included some of the biggest names in banking such as ABN AMRO, BNP Paribas and J.P. Morgan.

Blythe Masters, CEO of Digital Asset Holdings and former JP Morgan executive, views the success of this funding round as proof that distributed ledger technology is here to stay:

“These investments represent a tremendous endorsement of Digital Asset from banks, exchanges, settlement and clearing firms, central securities depositories, and market infrastructure and professional services providers,”

According to an article by Bloomberg, Digital Asset Holdings will be providing the Australian Stock Exchange (ASX) with a blockchain-based trading system that will reduce securities settlement down to several minutes. ASX invested about $10 million in this funding round for a %5 stake.

Elmer Funke Kupper, CEO of ASX, believes that now is the time to upgrade the outdated and inefficient ASX trading system, “This is the first opportunity in 20 years to re-engineer the way the market operates end-to-end. We should not miss that opportunity.”

Related Post

According to the press release, Digital Asset Holdings has announced the expansion of their Board of Directors to nine seats. The board is currently composed of partners from BNP Paribas, Deutsche Börse Group and JP Morgan. Eight board seats are currently filled and the last appointment will be revealed at a later date.

 

Sources: 1 2

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Traderman

Avid blogger, entrepreneur, and cryptocurrency enthusiast. I love writing about cryptocurrency, NFTs, price analysis, and much more!

Share
Published by
Traderman

Recent Posts

FTX/Alameda Continues Monthly $SOL Redemption and Distribution, Moving Millions to Major Exchanges

FTX and Alameda Research, two of the most significant players in the cryptocurrency ecosystem, have…

2 days ago

Giant Whale Accumulates $WIF Tokens, Racking Up Profits as Market Moves Favorably

A significant player in the cryptocurrency market has stirred things up by gathering a large…

2 days ago

$LAYER Continues to Thrive Despite Market Volatility, Team’s Innovation Drives Growth

In a cryptocurrency market often marked by wild swings and uncertainty, $LAYER stands as a…

2 days ago

Ethereum Sees Surge in Activity Amidst Growing Resistance and ETF Outflows

One of the top cryptocurrencies in the market, Ethereum ($ETH), has seen a huge rise…

2 days ago

Bitcoin’s Market Dominance Faces Challenges as On-Chain Activity Shifts Towards Ethereum

Bitcoin (BTC) has long held a dominant position in the cryptocurrency market for years. However,…

2 days ago

Smart Money Wallets Show Growing Interest in AI, DeFi, and Meme Tokens: A Look at Recent Accumulations

In the cryptocurrency world that is changing rapidly, the term "smart money" is often linked…

2 days ago