Securitize, a San Francisco-based startup handling digital securities on blockchain, has announced the raising of $12.75 million in funding. The round was led by Blockchain Capital. Blockchain investors like Coinbase Ventures, Global Brain, NXTP, OK Blockchain Capital, and Xpring at Ripple had also participated in it.
Carlos Domingo, the CEO, and Founder of Securitize has stated that transitioning the tokenized securities to decentralized ledgers will provide more transparency and security to the tokens. The ledgers will also enable users to avail instant security transactions, efficiently addressing the issues regarding longer duration as in present systems.
According to sources, the company’s main intention is to develop its engineering team with the funding. It will also focus on expanding its reach to the Asia Pacific Region and other parts of the world. The participation by Coinbase and Ripple may be a strategic move with some future goals.