Securrency, a global financial services technology infrastructure and products company, announced on Tuesday it secured $17.65 million through its Series A funding round, which was led by WisdomTree with participation from the Abu Dhabi Investment Office (ADIO), Monex Group, Inc., RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments.
Formed in 2015, Securrency describes itself as a technology products company that delivers a complete suite of security and compliance tools to issuers, broker-dealers, and alternative trading system (ATS) operators to enable the issuance, maintenance, and secondary trading of tokenized securities.
“Securrency has developed a unique Compliance Aware Token that embeds regulatory and transactional rules in a compliance layer to facilitate legally-compliant securities offerings in the United States and globally. Securrency’s protocol can be utilized on the Ethereum, Stellar, Ripple, EOS and other distributed ledgers, as well as on legacy systems, allowing for seamless on-chain and off-chain movement of tokens. Securrency’s Know Your Wallet tools can detect money laundering and other nefarious activity, thereby minimizing the risk of bad actor participation in secondary trading.”
Speaking about WisdomTree’s contribution to the funding round, Dan Doney, CEO of Securrency, stated:
“WisdomTree has a well-deserved reputation as an innovator within financial services, and we are thrilled to have them as our lead investor. WisdomTree has truly exciting applications for our technology. Our partnership with WisdomTree will allow us to demonstrate unique features of our technology, specifically our Compliance Aware Token framework and multi-ledger capabilities.”
Jonathan Steinberg, WisdomTree Founder and CEO, added:
“Our investment in Securrency is the result of a multi-year review of blockchain technology and the associated landscape. In our review, we found instances of unnecessary applications of the technology and poor compliance with existing regulations; however, there are numerous elements of blockchain technology that, when correctly applied, will bring benefits to investors. Using the technology, we believe we have identified areas for exciting innovation within the ETF ecosystem and in financial services more broadly, all with a focus on meeting the highest standards of regulation.”