Blockchain Securities Platform Gets $28 Mln In Funding From Big Name VC Investors
Andreessen Horowitz and Pantera Capital are among the investors pumping $28 mln into Blockchain securities platform Harbor.
Several high-profile investors have confirmed investing in a funding round that raised $28 mln for Harbor, a Blockchain company looking to remove legal barriers to securities trading, in press release today, April 17.
Harbor, which already secured a $10 mln Series A round in February, has this time received fresh cash from moguls including Silicon Valley’s Andreessen Horowitz and Blockchain investment fund Pantera Capital.
According to their press release, through a so-called R-Token system, Harbor will allow client businesses to smooth over trading of “a new wave of tokenized securities backed by real-world assets, such as real estate, company equity, investment funds, and fine art.”
Legal technicalities, which in traditional sales would need addressing on a case-by-case basis, will be taken care of by an outside legal firm and incorporated into the tokens themselves, the firm states. This would allow sales to occur automatically on the Blockchain using smart contracts, with ineligible parties automatically denied a successful sale.
While the deal is nothing new for either Andreessen or Pantera, both VC firms already supporting a host of Blockchain enterprises, steps forward in regulatory compliance are seen as key this year, as US regulators catch up with the blistering pace of Blockchain industry expansion.