Investment round includes global financial services leaders
Securrency, Inc., a leading developer of institutional-grade blockchain-based financial and regulatory technology, has announced that it has raised USD $30 million in its Series B funding round, with participation by WisdomTree Investments, Abu Dhabi Catalyst Partners Limited (ADCP), State Street, and U.S. Bank, among other investors. WisdomTree Investments, which led Securrency’s Series A round, increased its investment, confirming its continued commitment to a long-term technology partnership.
On the heels of its successful $17.65 million Series A round in early 2020, this new funding will fuel the next stage of Securrency’s growth into new products and markets around the world. Already boasting a world-class development and commercial team operating from multiple international hubs, Securrency plans to expand its roster further in 2021.
Dan Doney, Co-Founder and CEO of Securrency, said, “We have focused from our inception on financial logistics and have created a truly institutional-grade financial services ecosystem centered on automated compliance to support the issuance, exchange, administration, and servicing of digital assets. Blockchain technology will be a vital part of the interconnected and interoperable future of global finance, but a truly viable system must connect the full panoply of financial services and systems to digital assets infrastructure. Securrency’s core platform will be the rails on which all future value can move securely with real-time settlement and will serve as a bridge linking traditionally disconnected financial markets and ecosystems to enhance speed and efficiency and to drive down costs.”
“This funding is a huge milestone for Securrency,” continued Doney, “with strategic investment from world-leading financial services institutions. In the coming year, we will continue to work closely with our strategic partners and to, simultaneously, deliver compliant decentralized finance (DeFi) and other powerful products into the market in keeping with our mission to optimize financial logistics.”
This funding round solidifies Securrency’s position as the best-in-class automated compliance infrastructure provider for the institutional financial services sphere. With strategic backing from WisdomTree, one of the world’s premier ETF providers, along with two of the top 15 largest banks by assets in the U.S. and a Mubadala-backed investment fund, Securrency’s Series B round is evidence of the significant increase in the scale and scope of digital asset integration among institutional players.
Jonathan Steinberg, WisdomTree Founder and CEO, said, “We have a high strategic threshold for deploying our firm’s balance sheet. We led Securrency’s Series A round and are excited to be a meaningful participant in their Series B round. We believe the Securrency team is uniquely suited to lead in blockchain-based fintech and regtech going forward. Our ongoing financial commitment reaffirms the strength of our support and partnership in shaping the future of financial services with Securrency and our fellow investors.”
Securrency has applied for licenses to establish key regulated financial services businesses in the Abu Dhabi Global Market (ADGM) and, in partnership with ADCP, plans to offer cutting-edge digital assets services to a global marketplace from ADGM. ADGM is a world-class financial center boasting a rigorous but progressive regulatory framework for digital assets of all types. The investment by ADCP builds on previous investment in Securrency by the Abu Dhabi Investment Office and further demonstrates the commitment to invest in the strategic development of leading-edge technology in the ADGM.
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James Munce, COO and CFO of ADCP, said, “We believe that the asset management industry and the wider financial markets ecosystem will benefit enormously from new developments such as distributed ledger technology to build and maintain trust in financial services and the environments in which they operate. As we look to attract more asset managers to the ADGM, having the right partners in the region is key to that success, and we are excited to be partnering with Securrency as they bring their technology to the market.”
Securrency has worked closely with regulators around the world to ensure that its technology products and services address the highest institutional standards of compliance while remaining flexible, configurable, and interoperable with any blockchain or legacy system. The participation in Securrency’s Series B funding round by State Street and U.S. Bank will further enable the strategic importance of Securrency’s core platform and its suite of automated and compliant financial services.
“State Street is pleased to partner with Securrency as we continue to progress our digital asset strategy,” said Dean Sakati, Head of Product Innovation and Business Development for State Street Global Markets. “We believe in the value Securrency can bring to our clients by promoting interoperability, regulatory compliance across multiple jurisdictions, and solutions for identity management, as we continue to develop our digital assets servicing models.”
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Hosni Shadid, Head of U.S. Bank Investment Services International said, “We at U.S. Bank strive to be on the cutting edge of technology and ahead of the curve when it comes to new products to satisfy our client needs today, and in the future. Our investment in Securrency is both a testament to Securrency’s promising technology as well as to the importance of tokenization as a future core technology in the investment servicing industry”
Securrency has indicated that, in addition to its work with strategic institutional partners, it plans to establish its own network of regulated financial services companies in the U.S. and ADGM to enhance global liquidity and promote expanded market access and financial inclusion worldwide. Chief Strategy Officer, Patrick F. Campos, indicated that Securrency also has plans to deploy retail-focused products and, through its cutting-edge innovation arm, Securrency Labs, to continuously develop exciting new technologies for DeFi, as well as a community-driven platform for the rapid creation of sophisticated blockchain-based financial instruments in a low-code or no-code environment.
“2021 will be an exciting year for Securrency and for the digital assets industry as a whole,” said John Hensel, Co-Founder and Chief Operating Officer of Securrency, “and, working hand-in-hand with our forward-leaning strategic partners, Securrency intends to remain at the forefront of these developments as we deliver unmatched technology and thought leadership to a global marketplace.”
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