Computing company IBM and investment bank Goldman Sachs added $10m on Tuesday to the $50m in funding raised by US-based financial technology developer Digital Asset Holding last month.
The initial $50m tranche was supplied by 13 corporates from the financial sector, including CME Ventures, the investment unit of futures company CME, securities exchange operators ASX and Deutsche Börse Group, and Dutch state-owned bank ABN Amro.
They were joined by consultancy firm Accenture, business process outsourcing company Broadridge Financial Solutions, dealer broker Icap, post-trade financial services provider Depository Trust and Clearing Corporation, and financial services firms BNP Paribas, Citi, JP Morgan, PNC Financial Services Group and Santander, the latter investing through its InnoVentures unit.
Founded in 2015, Digital Asset’s offering uses blockchain technology for secure straight-through processing, allowing trading to be processed electronically without the need for manual intervention.
Digital Asset said at the time of the first close that the round would support expansion efforts and increased customer service capabilities.
Blythe Masters, chief executive of Digital Asset, said: “The addition of Goldman Sachs and IBM as investors in Digital Asset will continue to help drive the global adoption of this transformative technology.”
Jerry Cuomo, vice-president for blockchain and fellow at IBM, added: “We are excited to jointly develop distributed ledger technologies that will allow our clients to transform their business, and further strengthen our partnership with Digital Asset.
“Blockchain holds real potential to transform a wide range of industries and IBM is committed to making it ready for business.”