Markets operator and provider of post trade risk mitigation and information services ICAP plc (LON:IAP) announced on Thursday that it has made a strategic investment in Digital Asset Holdings LLC, a developer of Distributed Ledger Technology for the financial services industry.
The investment was made through Euclid Opportunities, ICAP’s early stage fintech investment business, as a part of a funding round that surpasses $50 million from a broad range of leading financial and market infrastructure participants.
Jenny Knott, CEO of ICAP’s Post Trade Risk and Information Services, said,
“Distributed Ledger Technology has the potential to significantly benefit the financial landscape, and Digital Asset Holdings is at the forefront of developments in this field. ICAP will continue to explore options to use Distributed Ledger Technology to build next generation products and identify further opportunities for innovation in this field.”
Blythe Masters, CEO of Digital Asset, said,
“These investments represent a tremendous endorsement from banks, exchanges, settlement and clearing firms, central securities depositories and market infrastructure and professional services providers, of the transformative power of Digital Asset’s technology solutions. Our strategic investors have come together from across the financial services industry to help drive global adoption of transformative solutions which enhance the vital services that they provide.”
You can view the full announcement from ICAP by clicking here.