Adhara said to raise $15m in funding from Consensys

Adhara, a liquidity management and international payments solution for financial institutions, has reportedly closed a $15m funding round.

The investment came from Consensys, an Ethereum-based decentralised application developer, according to a report from Coindeck.

Following the investment, the company hopes to further the development of its international payments services, it said. This growth will include the introduction of central banks to deeper levels of cryptography.

An example of this new development is outlined through the article, and suggest a zero-knowledge proof solution which will enable firms to prove they have knowledge of something, without revealing what it is. This solution will be integrated with other cryptography types to boost blockchain’s capabilities.

London-based Adhara is a real-time, multi-currency global liquidity management and cross-border payments service. Its system is based on tokenised money via a smart contract powered distributed ledger.

By using its services, banks can optimise their capital deployment, manage risks and leverage liquidity, as well as settle tokenised fiat payments quicker.

Adhara’s clients include commercial banks, central banks, corporates and market makers.

Earlier this month, Consensys made a $6.5m minority investment into the distributed ledger-based application developer DrumG Technologies. The company collaborates with its founder institutions network to create decentralised-ledger applications, helping to connect various blockchain platforms and business networks for the financial services industry.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.