Euclid Opportunities invests in Digital Asset Holdings
22 January 2016
London/New York, 21 January, 2016 – ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announced today that it has invested in Digital Asset Holdings LLC, a developer of Distributed Ledger Technology for the financial services industry. The investment was made through Euclid Opportunities, ICAP’s early stage fintech investment business, and forms part of a funding round that exceeds $50 million from a broad range of leading financial and market infrastructure participants. Terms of theinvestment were not disclosed.
Jenny Knott, CEO of ICAP’s Post Trade Risk and Information Services, said, “Distributed Ledger Technology has the potential to significantly benefit the financial landscape, and Digital Asset Holdings is at the forefront of developments in this field. ICAP will continue to explore options to use Distributed Ledger Technology to build next generation products and identify further opportunities for innovation in this field.”
“These investments represent a tremendous endorsement from banks, exchanges, settlement and clearing firms, central securities depositories and market infrastructure and professional services providers, of the transformative power of Digital Asset’s technology solutions,” said Blythe Masters, CEO of Digital Asset. “Our strategic investors have come together from across the financial services industry to help drive global adoption of transformative solutions which enhance the vital services that they provide.”
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information go to www.icap.com.
Through Euclid Opportunities, ICAP’s early stage fintech investment business, ICAP supports innovative financial technology firms in the areas of post trade risk management, data and financial market applications. Euclid Opportunities forms part of the post trade division of ICAP, which also comprises TriOptima, Traiana, RESET and ICAP Information Services. Portfolio companies include Duco, AcadiaSoft, Enso Financial, OpenGamma and Abide Financial.
About Digital Asset Holdings
Digital Asset builds distributed, encrypted straight through processing tools. Our technology improves efficiency, security, compliance and settlement speed.
The New York headquartered firm has offices in San Francisco, Tel Aviv, Budapest, and recently announced the addition of a London office. Since launch, Digital Asset has sought complementary talent and technology by acquiring three companies. The new funding will support Digital Asset’s continued expansion and enable it to better service its global client base.