Digital Asset Holdings, LLC, a blockchain solutions firm based in New York, announced today that Goldman Sachs Group and IBM have joined in the company’s most recent funding round that exceeded $50 million from multiple financial institutions. With the addition of Goldman Sachs and IBM, the funding round now tops $60 million.
Blythe Masters, CEO of Digital Asset Holdings, stated how pivotal the addition of these two industry giants is to the future of distributed ledger technology, “The addition of Goldman Sachs and IBM as investors in Digital Asset will continue to help drive the global adoption of this transformative technology,”
Digital Asset Holdings recently partnered with JPMorgan to work on a blockchain-based trade settlement system that promises to improve every nook and cranny of the cumbersome derivatives trading model.
Paul Walker, Global Co-Head of Technology at Goldman Sachs, also sees the potential of blockchain systems to completely revamp the way financial transactions and securities trading is done on Wall Street:
“We believe that distributed ledger technology will play a transformative role in the way financial institutions transact globally and we look forward to working with Digital Asset and the broader financial and technical community to engage this emerging technology.”
This is IBM’s first foray into the blockchain space and Jerry Cuomo, IBM Fellow, said that blockchain technology will have a material impact on industries across the globe.
“Blockchain holds real potential to transform a wide range of industries and IBM is committed to making it ready for business.”
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