Digital assets software company Ownera has raised $20 million in a Series A funding round and will use it to accelerate the deployment of its global interoperability network for trading tokenized securities.
Ownera’s network is based on the open-source FINP2P protocol and seamlessly connects securities tokenization engines on any public or private blockchain, according to a Wednesday (Sept. 14) press release.
“It is commonly accepted that the tokenization of securities has the capacity to digitize markets with total value in the trillions of dollars,” Ownera Co-Founder and CEO Ami Ben-David said in the release. “Dozens of platforms are being deployed by financial institutions across the market, and our job is to be the neutral layer, seamlessly interconnecting them into one global distribution and liquidity network, using open-source network specifications.”
Where there are now siloed tokenization platforms and trading interfaces, the company aims to create a global unified inter-trading pipeline, according to the press release.
With Ownera’s unified digital securities wallet that it can provide to clients, and which is connected to an application programming interface (API) that aggregates and normalizes the offerings, clients can invest, trade, lend and borrow against the connected set of tokenized assets, per the release.
“Interconnectivity is key to maintaining a liquid marketplace for tokenized assets,” Scott Lucas, head of markets DLT at J.P. Morgan, which participated in the funding round, said in the release. “Ownera has developed a solution with the potential to connect multiple platforms to start building towards that liquid marketplace.”
As PYMNTS reported in July, tokenization is also being used to help meet consumers’ and businesses’ desire for faster payment rails, security and privacy.
With the addition of tokenization of deposit and checking account information to the RTP network and Electronic Payments Network, participants can ensure that the account information of a sender or receiver is not shared with any other party.