Digital Asset Holdings, LLC, a New York-based developer of Distributed Ledger Technology for the financial services industry, raised more than $50m in funding.
Backers include ABN AMRO, Accenture, ASX Limited, BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse Group, ICAP, J.P. Morgan, Santander InnoVentures, The Depository Trust & Clearing Corporation (DTCC) and The PNC Financial Services Group, Inc.
The company intends to use the funds to continue to expand adoption of its solutions.
Launched in 2015 and led by Blythe Masters, CEO, Digital Asset provides Distributed Ledger Technology which allows financial players to improve efficiency, security, compliance and settlement speed while reducing costs. Its products serve the entire financial ecosystem through the creation of business logic applications using privately permissioned networks that employ a cryptographically secure and shared infrastructure.
The company also announced that it is expanding its Board of Directors to nine members. The Board will be comprised of:
– Catherine Flax, Head of Commodity Derivatives and Foreign Exchange & Local Markets, Americas of BNP Paribas,
– Ashwin Kumar, Group Head of Product Development of Deutsche Börse Group,
– Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate & Investment Bank, and
– Mike Bodson, President & Chief Executive Officer of DTCC,
– Blythe Masters,
– Donald Wilson,
– Sunil Hirani,
– Cristóbal Conde and
– an additional director who will be named shortly.
Digital Asset also has offices in San Francisco, Tel Aviv, Budapest, and London.