ICAP plc, a markets operator and provider of post trade risk mitigation and information services, has undergone an investment in Digital Asset Holdings LLC, a developer of Distributed Ledger Technology, according to an ICAP statement.
More specifically, ICAP’s early stage fintech investment business, Euclid Opportunities, made an investment that was part of a funding round that surpassed $50 million, constituting a broad range of financial and market infrastructure participants.
ICAP is the second exchange operator today to announce an investment in Digital Asset Holdings. Earlier today, ASX Limited selected Digital Asset to develop its solutions suite for the Australian market by utilizing Distributed Ledger Technology. The development was designed to simplify and speed-up post-trade processing for Australian market participants.
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According to Jenny Knott, Chief Executive Officer (CEO) of ICAP’s Post Trade Risk and Information Services, in a recent statement on the investment: “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,” she noted.
“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,” added Blythe Masters, CEO of Digital Asset Holdings in an accompanying statement.
“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.”