DMG Blockchain Solutions, a Canada-based leading blockchain and crypto technology firm, recently announced a $2 million strategic investment in California-based crypto company, Bosonic.
According to an official announcement shared with Finance Magnates, DMG’s recent investment in Bosonic is a strategic initiative targeted at institutional adoption of cryptocurrencies.
In June 2021, DMG announced a strategic investment in crypto custodian Brane Capital. The blockchain company highlighted that its latest investment in Bosonic is synergistic with its investment in Ottawa-based Brane Capital.
In the press release, DMG mentioned that the recent investment will facilitate the company’s access to two primary technology infrastructures of Bosonic, including institutional exchange and the Layer-2 blockchain-powered clearing and settlement solutions designed to eliminate counterparty credit and settlement risk.
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Commenting on the latest $2 million investment, Sheldon Bennett, DMG’s CEO, said: “By completing this transaction, DMG’s new partnership will help the Company develop more financial service-related functionality for the Blockseer Ecosystem. This initiative represents significant potential monetization of existing Blockseer clients and the ability of DMG for the first time to aggressively enter the consumer market for Blockseer platforms.”
Founded in 2016, Bosonic is one of the leading technology firms providing the infrastructure to eliminate counterparty credit and settlement risk in Digital Asset markets. Bosonic Network has more than 60 members, including leading custodians and exchanges. The San Francisco-based company saw significant growth this year due to a rapid increase in demand for crypto-related services.
“We are extremely excited to partner with DMG, whose Blockseer platform will power the world’s first digital asset ecosystem consisting entirely of clean energy mined and OFAC clean crypto. We believe this will help accelerate the adoption of cryptocurrencies by institutions and fiduciaries with its integrated mining, independent custody and various trade execution facilities within a single environment. This initiative will set a new standard for ESG conscious investors interested in digital assets,” Rosario Ingargiola, CEO and Founder of Bosonic, commented.
In the latest announcement, DMG highlighted that Bennett will serve a term on the Bosonic Board of Directors as part of the transaction.