On February 27, Bloomberg reported that Nivaura Ltd, which issued the first cryptocurrency bond, has completed the first round of funding for its’ investment market automation project.
Who Are Nivaura Ltd?
Nivaura Ltd is a British startup that aims to bring a digital revolution to the capital markets, with a significant focus on primary issuance. The company’s platform operates on a modular architecture that provides issuance and administration of financial instruments at a competitive cost, compared to current channels.
Another significant achievement of the company is the execution of the first-ever automated cryptocurrency bond. According to Dr. Avtar Sehra, CEO and Chief Product Architect at Nivaura:
“As cryptocurrencies or tokenized fiat-currencies become an accepted form of payment mechanism it won’t be long before automated crypto-denominated deals become standard practice.”
Nivaura has also previously executed two successful automated GBP-denominated bond issuances using their platform. The transactions used a traditional post-trade set-up and an open public blockchain network.
As a pioneer in the cryptocurrency bond trading world, Nivaura is now aiming higher, by starting a funding cycle for its’ next project in investment market automation.
Seed Funding Completed, Focus On The Future
As of February 27, 2019, Nivaura has managed to complete the seed round of the funding campaign and raise $20 million. Some of the leading investors in this round include the London Stock Exchange (LSE), Banco Santander SA, and law firm Allen & Overy.
The turnout on this funding round is essential for the cryptocurrency world, as it shows that big institutions and companies still have an interest in the matter. While cryptocurrencies and blockchain technology have many controversial aspects, it is clear that they will be an integral part of the future of finance and information transfers.
Other leaders in the finance industry like JPMorgan Chase & Co. have also announced their intent to create cryptocurrency tokens and digital coins.
While cryptocurrency bonds and securities will become a more critical task for Nivaura in the future, for now, the company will focus on automating investment markets. “It’s impractical to tokenize securities because of the regulations around securities depositories, as well as the dominance of fiat currencies, like dollars and euros,” Sehra said.
Nivaura is set to become one of the leaders in the investment automation niche, and eventually a significant figure in the crypto-bonds trading world. Their platform is a unique development in the sphere of finances, investment, and trading.