26 Jan '16, 9pm

Is Digital Asset's $50 Million Funding a Blow to Bitcoin? VCs Weigh In

Is Digital Asset's $50 Million Funding a Blow to Bitcoin? VCs Weigh In

Founded in 2014 and led by CEO and ex-JP Morgan executive Blythe Masters, Digital Asset Holdings had long been the subject of speculation that suggested that, despite its high-profile leadership, the startup was having difficulties raising an initial funding round. All that uncertainty was laid to rest last week, however, when Digital Asset silenced rumors by raising upwards of $50m (some reports say $52m was the total) from 13 major financial institutions, among them traditional financial giants such as Citi, CME Ventures and Santander InnoVentures. The $50m round is the largest to date for a startup seeking to use private or permissioned blockchain technology, which unlike the open-source bitcoin network, is purposed for use by a selected number of trusted institutions for use cases including syndicated loans, US Treasury repo, foreign exchange, securities settlement and...

Full article: http://www.coindesk.com/digital-assets-50-million-blockch...

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