London Stock Exchange Group leads $20m Nivaura funding round

London Stock Exchange Group leads $20m Nivaura funding round28.02.2019


London Stock Exchange Group leads $20m Nivaura funding round

British startup Nivaura announced the successful completion of the third round of funding. The company received $ 20 million, with the largest contribution from the London Stock Exchange (LSEG).

 

Venture companies Santander InnoVentures, Transamerica Ventures, MiddleGame Ventures, Law Firm Linklaters and Orrick, Digital Currency Group and investor Spencer Lake (Spencer Lake) also participated in the financing.

The first round of funding Nivaura closed in October 2017, and the second - in January 2018. Although there is no accurate data on the collected investments, they were significantly less than the $ 20 million just received.

Nivaura is developing a solution to fully automate the issuance of financial instruments, such as securities, derivatives or bonds. In this case, the solution will not be tied to a specific blockchain and will be able to work on any network.

“We are planning a series of large-scale projects with large-caliber partners to show the capabilities of our system to produce the entire range of securities. We see the growing appetite of large financial organizations for practical innovations”, said the head of Nivaura, Dr. Avtar Sehra.

Note that earlier the startup participated in the sandbox, founded by the UK regulator FCA. Thanks to this work, Nivaura gained important experience in obtaining licenses. Including the company found out how tokenized assets can be traded under the European regulation of CDSR.

“We have rethought some key processes so that tokenized trading tools fit the CSDR. Now it doesn't matter to us which blockchain to issue assets, public or private, in any case, the tokens will correspond to the regulation and can be traded”, said Sehra.

The head of the company stressed that the official position of Nivaura is “blockchain-agnostic”. That is, the company is not committed to any particular type of blockchain technologies. The first test solution has been launched on the Bitcoin network, and then it was tested on Ethereum blockchain.

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