AlphaPoint, a platform helping organisations tokenize assets and build marketplaces, has collected $5.6m in funding.
With the close of the round, the company will look to increase the development of its platform and release new tools including margin trading, integrated advanced brokerage capabilities and premium liquidity solutions.
The FinTech previously raised $15m in a Series A round back in 2018, with contributions coming from Galaxy Digital Ventures, a venture capital firm founded by veteran hedge fund trader Michael Novogratz.
Founded in 2013, the company supplies financial institutions with secure and scalable blockchain infrastructure for asset digitisation and trading. Its technology helps over 150 customers spanning 35 countries to support 100 million annual trades.
Clients can leverage the platform to build digital assets and launch asset exchanges for the currency.
Janney Montgomery Scott president and CEO Tim Scheve said, “Blockchain and other emerging technologies have the potential to substantially change aspects of financial services.
“After personally observing advancements in these technologies for some time, I’m excited to engage more directly with Igor and the team at AlphaPoint to understand their impact on our industry.â€
In conjunction with the deal, Tim Scheve will join the FinTech’s board of directors and The Mayle Group founder and CEO Jan Mayle will join AlphaPoint as a company advisor.
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