California-based blockchain developer Baton Systems recently announced that it has raised $12 million in funding. Trinity Ventures led the Series A round, which included Alsop Louie and Commerce Ventures.
“This investment provides us with the strategic support and firepower to scale our bank-to-bank payment solution for the world’s leading financial institutions even faster and more effectively,” said Arjun Jayaram, CEO of Baton Systems.
Founded in 2016, Baton has been working on a distributed ledger technology (DLT) solution for the banking space that doesn’t require banks to overhaul existing systems. The company’s platform provides DLT-based solutions to address the immediate issues faced by its customers by interoperability with current business systems.
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