AlphaPoint, a FinTech company helping institutions launch trading platforms and tokenise assets with blockchain technology, has closed a $15m Series A round.
The investment came from Galaxy Digital Ventures, a venture investment firm founded by Michael Novogratz, a veteran hedge fund trader and bitcoin evangelist. As part of the deal, Galaxy Digital Ventures managing director, Greg Wasserman, will join AlphaPoint Board of Directors.
Founded five years ago in 2013, AlphaPoint provides proven, secure, and scalable blockchain infrastructure for asset digitisation and trading for institutions around the world. Through its distributed ledger platform, the company enables customers to digitise assets as well as launch and operate digital asset exchanges with its white label technology.
?We are in the early stages of a fundamental transformation in financial markets due to the digitisation of assets. This transformation started with currencies but is now changing the way we look at commodities, real estate, art, and other traditional and emerging asset classes. We are excited to partner with AlphaPoint as we continue to help drive this revolutionary change in digital markets,said Mike Novogratz, CEO and Founder of Galaxy Digital Ventures.
AlphaPoint white label exchange and asset digitisation technology is leveraged by customers in over 30 countries around the world. Its technology is already used by major institutions such as CME Group, The Royal Mint, London Block Exchange (LBX), Bitt, and Muirfield Investment Partners to launch trading platforms and digitise assets.
Wasserman added: ?The market opportunity for digitising illiquid assets is tremendous. Consumers are demanding increased access, transparency and trust. Businesses are seeking increased liquidity with reduced fraud, risk and cost.p>
AlphaPoint covers markets ranging from commodities, private company shares, and fiat currencies, to real estate, diamonds, cryptocurrencies, ICOs, and securitised token offerings. The funding will be used to further accelerate the already rapid global growth AlphaPoint is currently experiencing.
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