Startup Securitize has raised nearly $13 million in a Series A funding round as part of its initiative to issue digital products of traditional securities on the blockchain.
Led by Blockchain Capital, the startup has attracted equity investment from “informed investors” ahead of the release of security tokens, according to CEO Carlos Domingo.
Coinbase Ventures, Xpring, OK Blockchain Capital, Global Brain and NXTP were also investors.
Domingo explained that the startup intends to shift the stock industry, currently valued at $7 trillion, to decentralized ledgers because they are more transparent, auditable and facilitate instant transactions.
We believe this is what is happening globally now tokenization of the traditional securities industry. To take advantage of this opportunity in emerging markets, we plan to expand our development team and geographic presence from Latin America to Asia-Pacific and other parts of the world.
Spartap has already begun issuing digital securities for companies such as 22x, SPiCE VC and Augmate, and has also issued a BCAP token for Bankchain Capital.
The company's digital securities are also traded on AirSwap and OpenFinance Network platforms in compliance with regulatory requirements.
According to https://www.coindesk.com
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