Digital Asset Holdings, the blockchain technology startup led by Wall Street veteran Blythe Masters, has raised more than $50 million in funding and expanded its board, the company said Thursday.
Banking institutions have been looking to distributed-ledger startups like Digital Asset and its competitor, R3CEV, to experiment with and perhaps implement their technology. The idea of a shared ledger was a key innovation of bitcoin, although the industry’s explorations have mostly avoided associating with the decentralized digital currency.
The new investors in Digital Asset are ABN AMRO, Accenture, ASX Limited, BNP Paribas, Broadridge Financial Solutions, Citi, CME Ventures, Deutsche Börse Group, ICAP, Masters’ alma mater JPMorgan Chase, Santander InnoVentures, the Depository Trust & Clearing Corp. and PNC Financial Services. Digital Asset did not say when the round closed.
The company has also added four industry executives to its board of directors: DTCC president and CEO Mike Bodson; Sanoke Viswanathan, chief administrative officer of JPMorgan Chase’s corporate and investment banking division; Ashwin Kumar, group head of product development at Deutsche Börse Group; and Catherine Flax, head of commodity derivatives and foreign exchange and local markets at the Americas division of BNP Paribas. There are now nine seats on the company’s board; it plans to announce the ninth appointment shortly, it said.