Digital asset custody provider First Digital Trust (FDT) has announced a $3 million convertible note funding round on online investment platform BnkToTheFuture to fulfill its mission to bring much needed trust into the digital asset space.
FDT is a technology-driven financial institution powering the digital asset industry and servicing FinTech innovators including blockchain clients, payment companies and virtual banks. FDT is the digital asset spin-off from Legacy Trust, who have been experts in trust, custody and asset servicing since 1992. It works with Ledger Vault to offer institutional-grade digital asset custody with multi-level security layers and $150m pooled crime insurance.
BnkToTheFuture is one of the largest global online investment platforms investing in FinTech, blockchain and crypto companies. The platform is said to have a network of over 85,000 qualified investors and has enabled compliant equity funding rounds for a variety of established crypto firms. Some of their portfolio companies include Coinbase, Bitpay, RippleLabs, Kraken, Bitfinex and over 100 more with strong support from leading innovators including Sir Richard Branson.
FDT aims to raise US$1 million on the BnkToTheFuture platform, while additional private investors are expected to complete the funding round. According to FDT, this convertible note round will enable qualifying investors to contribute as little as $1,000 to advancing the industry-leading infrastructure that provides multi-asset trust and custody via its Open Finance solutions powered by its OpenTrust APIs. The round will be open for a period of 60 days.
“FDT’s trust structure provides a solution for financial institutions like ours to hold digital and traditional assets in a legal trust structure built for the digital age. We want to support them in funding their growth to bring an important development to the digital asset ecosystem,” said Simon Dixon, CEO of BnkToTheFuture.
“We are providing a credible trusted solution for global enterprises venturing into the DeFi and digital asset tokenisation industries that require appropriate legal, regulatory compliant and secure infrastructure.” says Vincent Chok, CEO of FDT.
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