Coinbase Joins $5M Funding for Digital Transfer Agent Vertalo
Summary
Vertalo, an Austin, Texas-based start-up that helps issue and manage digital securities, has raised $5 million in funding from investors including U.S. cryptocurrency exchange Coinbase. The Series A funding round closed May 13 and also included participation from the Tezos Foundation, Wedbush Capital and others, according to Vertalo CEO Dave Hendricks. The four-year-old company helps to digitize assets from real estate to equity in the form of security tokens, using distributed ledger technology – relying primarily on the Tezos and Ethereum blockchains. “In 2020 we started licensing the platform to broker dealers, capital providers, funds and multi-asset issuers so they can issue security tokens and onboard investors at scale,” Hendricks told CoinDesk in an interview. One of the company’s primary offerings is blockchain-based capitalization table management, using ledgers to keep track of the owners of shares and assets along with relevant information such as amounts, prices paid, purchase dates and options.