Blockchain Firm Clearmatics Raises $12M USD In Series A Funding

Source: Block Tribune, originally published on .

https://blocktribune.com/blockchain-firm-clearmatics-raises-12m-usd-in-series-a-funding/.

Blockchain firm Clearmatics has raised over $12 million in a Series A funding round to help build the next generation of financial market infrastructure. The round is led by private investment firm Route 66 Ventures. Other investors include private equity firm TNF Capital and XTX Ventures, the venture capital arm of electronic market-making firm XTX Markets.

Founded in 2015, Clearmatics is a London-based blockchain reseach and development (R7D) company designing and servicing protocols for Decentralized Clearing Networks (DCN), which are private, member-owned and governed networks that enable peer-to-peer (P2P) transfer of financial value and automation of contractual and fiduciary operations without reliance on trusted third-parties.

The company will use the latest funding to expand its team and accelerate its ongoing development work in permissioned, P2P networks, including its work on blockchain interoperability and transaction privacy.

“We are very excited to be working with investors who are so committed to disrupting legacy market structure through technology,” said Robert Sams, CEO of Clearmatics. “This investment will enable us to create further DCNs and build a peer-to-peer ecosystem over the entire trade lifecycle, from trade execution to settlement.”

As part of the investment, Samir Khosla, Managing Partner at TNF Capital, will join the Clearmatics Board of Directors.

“Its exceptional team under the leadership of Robert Sams, a visionary innovator, is bringing transformative change to financial market infrastructure,” Khosla said. “We envision Clearmatics triggering an exciting shift for wider market participants through its achievement of cross-chain interoperability.”

Clearmatics plans to launch a protocol provider service next year to support the go-to-market of the Utility Settlement Coin (USC) project, a consortium of 17 banks and financial institutions aiming to make it easier for central banks to issue currencies on a blockchain.

The post Blockchain Firm Clearmatics Raises $12M USD In Series A Funding appeared first on BlockTribune.

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