Today Securrency announced it raised a $30 million Series B round from WisdomTree Investments, Abu Dhabi Catalyst Partners Limited (ADCP), State Street, U.S. Bank, and others. It follows a $17.75 million Series A in early 2020 led by WisdomTree, which included the Abu Dhabi Investment Office (ADIO), the UAE’s Panthera Capital Investments, amongst others.
“We believe the Securrency team is uniquely suited to lead in blockchain-based fintech and regtech going forward,” said Jonathan Steinberg, WisdomTree Founder and CEO. “Our ongoing financial commitment reaffirms the strength of our support.”
Securrency is a blockchain financial and regtech firm focused on regulated security tokens. A major part of its business is oriented around compliance and it has a ‘Compliance Aware Token’ framework.
The idea is that any token should be natively aware that it has to comply with local regulations. That’s a ruleset for which Securrency can provide an oracle or feed. But the token should also be capable of complying with corporate policies associated with the token. Both the regulatory and corporate rules need to match the buyer’s status, likely as an accredited investor.
“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,” said Dean Sakati, Head of Product Innovation and Business Development for State Street Global Markets
Securrency recently signed a deal with Ownera to participate in FinP2P, which aims to enable cross-network transactions between all the regulated security token platforms.
The company has “created a truly institutional-grade financial services ecosystem centered on automated compliance to support the issuance, exchange, administration, and servicing of digital assets,” said Dan Doney, Co-Founder and CEO of Securrency.
He continued, “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.”
The company said it has applied for a license as a regulated financial services business in the Abu Dhabi Global Market (ADGM). In addition to working with its strategic partners, it’s planning its own network of regulated financial services companies in the United States. Outside of the institutional space, it has plans for retail-focused DeFi products through its Securrency Labs.