Securrency raises $17.65M for Compliance Aware Token™
Securrency, a leading developer of blockchain-based financial and regulatory technology, today announced Series A funding of $17.65 million. Leading financial services company.
WisdomTree Investments, Inc. (Nasdaq: WETF) led the round as a strategic investor. Other participants in the round include the Abu Dhabi Investment Office through its Ventures Fund, Japanese financial services giant, Monex Group, Inc., and venture capital firms RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments, a venture arm of Fujairah Holding.
Securrency provides a universal identity and compliance framework to facilitate global digital securities transactions. The company is based in the United States and has established significant operations in the United Arab Emirates within the Abu Dhabi Global Market, a technology-forward financial center.
Securrency’s proprietary, patent-pending Compliance Aware Token™ provides multi-jurisdictional compliance and unprecedented convenience to financial services providers and market participants. It eases the issuance, trading, and servicing of digital securities and other digital assets. Securrency’s technology is blockchain-agnostic and through compliance and policy-enforcement tools it can support ledger-to-ledger transactions across multiple blockchains.
“Securrency recognized early on that global liquidity for digital securities will result from validated identity and multi-jurisdictional compliance, and that a convenient framework for universal interoperability would unlock the power of blockchain technology in the financial markets. We have been building over the past several years a unique framework that is not restricted to one blockchain or platform in order to allow for the remarkable innovations across this space to come together in a way that encourages the major institutions, market makers, and other market players to swiftly and confidently transition into this new technological paradigm.” Dan Doney, CEO of Securrency
For its Series A round, Securrency focused on leaders in the financial markets, particularly global issuers of highly-liquid securities and proven market innovators. Jonathan Steinberg, WisdomTree Founder and CEO, said,
“Our investment in Securrency is the result of a multi-year review of blockchain technology and the associated landscape. In our review, we found instances of unnecessary applications of the technology and poor compliance with existing regulations; however, there are numerous elements of blockchain technology that, when correctly applied, will bring benefits to investors. Using the technology, we believe we have identified areas for exciting innovation within the ETF ecosystem and in financial services more broadly, all with a focus on meeting the highest standards of regulation.”
Headquartered in the United States, Securrency has been substantially growing its operations in the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. The investment in this round made by the Abu Dhabi Investment Office through its Ventures Fund, anticipates the role Securrency will play in contributing to Abu Dhabi’s global position as an innovative International Financial Centre. The centre is well supported by the Financial Services Regulatory Authority of ADGM with a world-class financial regulation regime.
Securrency plans to use its Series A funding to advance its software and platform development, integrate with key strategic partners and other customers and build out its operational structure.