Securrency has raised 17 million dollars in total investments, while the startup aims to bring to exchange-traded funds (ETFs).
The newly incepted idea is keen on bringing the blockchain technology into the ETF world, and the current investments secured by the startup would be a push forward.
Securrency to bring blockchain to ETFs
WisdomTree announced an investment plan for the startup dubbed Securrency Inc., an institutional blockchain building firm present in the financial ecosystem. WisdomTree is a company that deals in asset management, exchange-traded funds (ETF), and exchange-traded products (ETP).
Now the company seems to be looking for blockchain technology to power up the system for management of ETF markets. The company has revealed that it aims to work with Securrency to expand the access of ETFs through blockchain.
Securrency received a total investment of 17.6 million dollars with funds from WisdomTree, Abu Dhabi Investment Office, and Monex Group among various others.
Although crypto ETFs seem to be a promising solution with huge potential, there is no crypto ETFs present at the moment. Various companies, including VacEck and Bitwise, have tried to launch crypto ETFs, yet none have received regulatory approval.
WisdomTree believes that blockchain technology can enhance the functioning capabilities of ETFs. It believes that blockchain has the power to make ETFs available to a much larger audience while following regulatory guidelines. It trusts Securrency and believes that the company provides expertise in blockchain and can assist in matters related to identity and regulatory compliance.
WorldTree revealed that the firm has been exploring blockchain technology for several years. The firm noted that while the technology has some “unnecessary applications,” it can be highly beneficial to the investors if it is applied correctly.
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