One of the main targets for many cryptocurrency enthusiasts in the market is to make these assets into mainstream financial endeavors. Securitize, a security token startup, is working towards their goal of digitizing traditional securities projects, adding them to a blockchain. In order to do this, they recently raised $13 million in a Series A funding round, which only just happened on Monday.

The funding round was hosted and led by Blockchain Capital, in an effort to prepare for a security token offering by enlisting “knowledgeable investors,” according to CEO and co-founder Carlos Domingo. With the new funding, the company also wants to work on their investor relations, increasing liquidity, promoting compliance, and keeping up with their capital.

Due to their inclusion during the funding round, the co-founder and managing partner of Blockchain Capital, Brad Stephens, will be a part of the board of directors for Securitize. Other participants in the funding round included Coinbase Ventures, OK Blockchain Capital, Global Brain, XPring from Ripple, and NXTP.

In an interview with CoinDesk, Domingo added that the company aims to bring decentralized ledgers to the securities industry for their transparency, auditability, and speed.

He added, “We believe the tokenization of legacy securities industry is taking place right now on a global scale. To take advantage of this emerging market opportunity, we plan to grow our engineering team and geographic coverage from Latin America to the Asia Pacific Region and other parts of the world for business development.”

So far, there are multiple digital securities that the company has been issuing, like 22x, SPiCE VC, Augmate, and the BCAP security token (from Blockchain Capital). Some of the company’s digital securities have already been entered on both the AirSwap and the OpenFinance networks, maintaining compliance with regulations.

Ethan Beard, the senior vice president of XPring, said that Ripple has focus on multiple areas, but tokenized securities is of great interest.

He added, “Securitize is great team focused on unlocking the private securities market with compliant, liquid, and easily tradable assets.”

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