AlphaPoint raises $15 million from Galaxy Digital Ventures to scale asset digitization
AlphaPoint, the provider of, secure, and scalable blockchain infrastructure for asset digitization and trading announced today they have partnered with founder Michael Novogratz’s firm Galaxy Digital Ventures. The funding will be used to further accelerate the accelerated global growth AlphaPoint is currently experiencing.
AlphaPoint’s white label exchange and asset digitization technology is leveraged by customers in over 30 countries around the world. AlphaPoint covers markets ranging from commodities, private company shares, and fiat currencies, to real estate, diamonds, cryptocurrencies, ICOs, and securitized token offerings.
“We are in the early stages of a fundamental transformation in financial markets due to the digitization of assets. This transformation started with currencies but is now changing the way we look at commodities, real estate, art, and other traditional and emerging asset classes. We are excited to partner with AlphaPoint as we continue to help drive this revolutionary change in digital markets,” said Mike Novogratz, CEO, and Founder of Galaxy Digital Ventures.
Proven Team, Technology, and Applications
Founded five years ago in 2013, AlphaPoint provides proven, secure, and scalable blockchain infrastructure for asset digitization and trading for institutions around the world. Led by a team of industry veterans with senior experience across financial technology, exchange technology, and securitization, AlphaPoint’s proprietary distributed ledger technology enables the creation and support of cryptocurrency exchanges and the tokenization of assets like commodities, luxury goods, and private shares.
The team comes from a background in capital markets with combined experience from major institutions such as Bloomberg, Barclays, BlackRock, Deutsche Bank, Morgan Stanley, Nasdaq, NYSE, Susquehanna, and UBS. AlphaPoint helps power secure exchanges and digital asset networks with a processing capacity of nearly one million transactions per second.
“We are delighted to have Galaxy Digital Ventures as a strategic investor who shares our vision to unlock the value of illiquid assets for a wider audience of investors and traders,” said Salil Donde, AlphaPoint Chief Executive Officer. “This investment allows us to continue our focus on our customers’ success.”
Galaxy Digital Ventures is an investor in the blockchain and crypto space. Galaxy Digital Ventures Managing Director, Greg Wasserman, will join AlphaPoint’s Board of Directors.
“The market opportunity for digitizing illiquid assets is tremendous. Consumers are demanding increased access, transparency and trust. Businesses are seeking increased liquidity with reduced fraud, risk, and cost. Executing on this market opportunity requires proven best-in-class technology alongside seasoned management teams with substantial experience providing new technology to a variety of financial institutions. AlphaPoint brings this rare combination together and I look forward to working with them,” said Greg Wasserman.
