Digital Asset, a blockchain startup company is funded by some of the world’s largest banks, has raised funds worth $40 million for its global expansion. This funding round was headed Jefferson River Capital, the office of Tony James, president and chief operating officer of Blackstone , a private equity firm.
The company also recently hired Clyde Rodriguez as chief information officer and chief technology officer. He previously worked at Microsoft. During his tenure there, Rodriguez was general manager, leading the Azure cloud network group. His previous experience also includes a stint as chief technology officer at Two Sigma Investments. Rodriguez will be a key member of the executive committee and will report to Digital Asset’s founder, Blythe Masters, a veteran of Wall Street.
Masters was one of the initial members to propose the usage of distributed ledger technology to give a modern dimension to financial services.
Speaking during a press release, Masters said, “The addition of Clyde and the closing of our series B financing position Digital Asset to capitalize on the enormous opportunities we see.”
Digital Asset has been maintaining a low profile recently, unlike its competitors R3 and Ripple, which have been quite open about their developments. Digital Asset has been silently developing a distributed ledger model for the Australian Securities Exchange since January 2016. The security exchange is an investor in the fin-tech startup company.