San Francisco tokenized securities startup Harbor completes $28 million in new funding round
Tokenized securities startup Harbor has raised a $28 million “strategic round” from a group of leading Silicon Valley venture capital firms. The round was led by Founders Fund, with participation from Andreessen Horowitz (A16Z) and Pantera Capital, as well as previous investments in the company by Craft Ventures, Vy Capital, Valor Equity Partners, Future Perfect Ventures, 1confirmation, Abstract Holdings , and Signia Venture Partners.
In January of this year, the San Francisco-based startup raised a $10 million Series A round, bringing its total disclosed funding to more than $40 million.
According to Joshua Stein, president and general counsel of Harbor, they plan to use the latest financing here to further develop the R-Token platform based on the Ethereum blockchain and expand the size of their team.
What Harbor has to do is actually to protect token issuers and investors so that they comply with securities, taxation, and other regulatory requirements when issuing and trading tokens. This also means that the protocol "tokenizes" real-world assets and makes them available to investors who use Ethereum's smart contract, and these investors can only do so after meeting relevant regulations-such as KYC (Know Your Customer) ) and AML (Anti-Money Laundering) before the transaction can be executed.
Stein said:
“We are interested in investors from different asset classes and trying to tokenize their assets. Now we need to build teams, platforms and protocols. In fact, there are trillions of dollars of real-world assets that can be represented from ownership interests. benefit from tokenization, so it can unlock huge economic value.”
Not only that, Stein added that Habor’s efforts to create liquidity in the cryptocurrency market will benefit the larger blockchain ecosystem, and he is excited about the services and impact emerging from the Ethereum community, explaining explain:
"By helping diverse companies, service providers and developers, we can further drive the economic value of the public blockchain ecosystem."
Harbor plans to launch their platform for issuers and licensed broker-dealers this summer.
