Crypto services company AlphaPoint effectively brought $15 million up in its first major round of venture capital funding, the firm declared on Thursday.
AlphaPoint raised the funds through Mike Novogratz’s Galaxy Digital, the self-depicted cryptocurrency trader bank. CEO Salil Donde said Galaxy Digital overseeing executive Greg Wasserman is also joining his company’s warning board to give “oversight, direction, and bits of knowledge.”
Donde told CoinDesk:
“Galaxy and AlphaPoint are both leaders in the crypto and blockchain space, so there have been, and will continue to be, opportunities where we can collaborate for the benefit of mutual customers. With respect to future products and technology, AlphaPoint will continue to incorporate the needs of our customers and our prospective customers in conjunction with the ever-changing blockchain landscape around us.”
The new funds will enable AlphaPoint to proceed with its central goal of utilizing blockchain innovation to digitize resources in both conventional and developing markets, he stated, referencing the Regulated Asset-Backed Token (RABT) his firm acquainted with liquidity in the land market.
In an announcement, Wasserman noted that “the market opportunity for digitizing illiquid assets is tremendous. Consumers are demanding increased access, transparency and trust. Businesses are seeking increased liquidity with reduced fraud, risk and cost.”
World Digital was propelled recently by extremely rich persons and previous support stock investments director Michael Novogratz, and purportedly raised an aggregate of $250 million as a cryptocurrency investment venture.
“We are in the early stages of a fundamental transformation in financial markets due to the digitization of assets … we are excited to partner with AlphaPoint as we continue to help drive this revolutionary change in digital markets,” he said in an official statement.
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