Digital Asset Holdings has announced two new investors joining its funding round, Goldman Sachs and IBM, pushing funding beyond $60 million.
Digital Asset Holdings (DAH), the New York firm developing blockchain solutions for the financial services industry has announced two new investors joining its funding round. Goldman Sachs and IBM are now among the investors in its funding round, with the financing now going beyond $60 million.
The new venture had already raised $52 million from firms including JPMorgan, Accenture Plc, Depository Trust & Clearing Corp. and Citigroup Inc. Last month, it won a contract to radically speed up settlement for Australia’s stock market on behalf of ASX Ltd., another investor.
The investments from Goldman and International Business Machines Corp. bring the total sum raised by the company to $60 million, according to a statement released on Tuesday. When the funding deal was initially announced in January, it valued Digital Asset at $100 million, according to people familiar with the matter.
“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. IBM and Digital Asset are the only two firms among several others in the Open Ledger Project who have currently pledged to contribute code and developer resources.” said Jerry Cuomo, IBM Fellow and Vice President.
“We believe that distributed ledger technology will play a transformative role in the way financial institutions transact globally and we look forward to working with Digital Asset and the broader financial and technical community to engage this emerging technology.” said Paul Walker, Global Co-head of Technology at Goldman Sachs.