TechCrunch is reporting that Coinbase’s VC arm, Coinbase Ventures, has joined a variety of other big names in providing Series A funding for Securitize, a company which aims to tokenize company shares and release them as Digital Security Offerings (DSOs).
This first round of funding raised $12.75 million and included additional industry movers such as Blockchain Capital, Japan’s Global Brain and Ripple’s Xpring fund. The money was raised primarily in fiat and a small amount of tokens, which will be converted to fiat or stablecoins for safe keeping.
The goal of Securitize is to digitize traditional equities under a new class of Digital Security Offerings. DSOs would be specifically securities and therefore avoid the current debate affecting many cryptos as to whether or not they count as such.
This appears to be an important step forward for the proliferation of digital assets, if not specifically cryptocurrency. However as more traditional trading mediums become digital, it will add increased validity to non-tangible commodities as a whole!