Digital Asset Holdings raises $40 million
16 October 2017 | 6225 views | 0
Digital Asset Holdings, the blockchain startup founded by former JPMorgan exec Blythe Masters, has raised over $40 million of Series B financing from existing and new investors, led by Jefferson River Capital.
The new funding comes just weeks before the Australian Securities Exchange makes a critical decision on whether to dismantle its existing Chess system in favour of a distributed ledger platform built using DAH technology. In September, Top ASX executives expressed growing confidence about the prospect of replacing their legacy post-trade infrastructure with a DLT-based system.
Other high-profile clients on the Digital Asset roster include the DTCC and SIX Securities Exchange.
Founded in 2014, the startup has over 130 employees in offices in New York, London, Zurich, Budapest, Sydney and Hong Kong. The latest round brings the total funding raised by Digital Asset to over $110 million as the company expands its global presence.
Additionally, the firm has bolstered its executive team with Clyde Rodriguez, former Co-CTO of Two Sigma Investments, joining as chief information officer & CTO of Engineering.
Rodriguez was an early member of Microsoft's Azure Cloud organisation, having formed and led the Azure Cloud Networking group as general manager. Previously, he led the Microsoft Windows Division in creating and delivering the company's first 64-bit Windows Client and Server x64 Edition operating systems.
Says Masters: “Clyde is a respected technology executive with a strong track record of leading engineering teams to develop mission-critical enterprise software that supports hundreds of millions of customers worldwide. The addition of Clyde and the closing of our Series B financing position Digital Asset to capitalise on the enormous opportunities we see."
Since launch, Digital Asset has sought complementary talent and technology by acquiring four companies: Hyperledger, Bits of Proof, Blockstack and Elevence. The new funding is likely to propel a further round of acquisitive growth.