AlphaPoint Raises $15 Million; Enabling Institutions to Tokenize Assets and Power Digital Asset Exchanges
Galaxy Digital Ventures LLC Partners with Blockchain Technology Company AlphaPoint to Execute Mission of Making Illiquid Assets Liquid
AlphaPoint, the global financial technology company that helps institutions launch trading platforms and tokenize assets with blockchain technology, today announced a Series A funding round of $15 million. The capital raise is from Galaxy Digital Ventures LLC, a venture investment firm founded by Michael Novogratz.
Broad Customer Base
AlphaPoint’s white label exchange and asset digitization technology is leveraged by customers in over 30 countries around the world. AlphaPoint’s technology is already used by major institutions such as CME Group, The Royal Mint, London Block Exchange (LBX), Bitt, and Muirfield Investment Partners to launch trading platforms and digitize assets. AlphaPoint covers markets ranging from commodities, private company shares, and fiat currencies, to real estate, diamonds, cryptocurrencies, ICOs, and securitized token offerings. The funding will be used to further accelerate the already rapid global growth AlphaPoint is currently experiencing.
“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.