SINGAPORE, July 7, 2021 /PRNewswire/ -- Chintai, a Singapore-based company that uses blockchain technology to modernize capital markets, announced today it has received $7.5M in seed financing from multiple prominent industry-leading funds, including lead investor Block.one, Cryptology Asset Group, Collective Capital, PEER Venture Partners, and Chimera Wealth. Chintai will use the funds to enable compliant tokenization of traditional financial assets on its blockchain network.
"Asset tokenization is an important trend that brings efficiency, liquidity, and fractional ownership to markets of all types," said Kevin Rose, Senior Vice President at Block.one. "We're excited to work with Chintai toward our shared vision of a blockchain-enabled digital asset revolution built on regulated financial services."
Christian Angermayer, a founding investor of Cryptology, added "The tokenization of financial assets will radically change capital markets as we know them today. The Chintai platform democratizes investing in a compliant manner for financial institutions, further lowering the barriers to entry for investors to participate in the highest potential growth assets."
Chintai is a first-of-its-kind, comprehensive product suite that enables financial institutions to easily embrace the efficiency gains of blockchain technology for regulated assets such as securities, debt, and real estate. Chintai technology removes 50-70% of administrative overhead within the value chain of regulated assets.
"It's well known that distributed ledger technology (DLT) is going to dramatically disrupt the financial system. Established financial institutions want to future-proof their competitive advantage, while smaller firms see the technology as a way to access innovative new business lines and increase their margins. Our comprehensive platform makes it easy for anyone to embrace compliant DLT for their specific needs," David Packham, CEO of Chintai said.
Packham is a finance veteran with 20 years experience and deep insights in the inner workings of both traditional finance and the DLT space.
The company uses Block.one's open source EOSIO protocol to provide clients with compliance-enabled digital asset technology for issuance, secondary trading, automated market making, cap table management, custody, and more. Chintai is launching their private institutional beta in July 2021 and recently reported Chimera Wealth as an investor and foundational partner.
Chintai is pursuing the Recognized Market Operator (RMO) and Capital Markets Services (CMS) licenses with the Monetary Authority of Singapore (MAS). After recently partnering with Bovill, a leader in regulatory consultancy, Chintai expects to establish licensing this year.
Chintai is a Singapore-based company with offices in Germany that uses blockchain technology to modernize capital markets for asset managers, banks, and enterprises. Our core product suite streamlines the life cycle of regulated assets by automating compliance, reporting, data reconciliation, cap table management, corporate actions, liquidity, and more. The technology can be white-labeled to allow anyone to become their own regulated issuer and market operator. Chintai is currently accepting clients into our pilot program for tokenized real estate, funds, debt, and other financial instruments. https://chintai.io/
Block.one is a technology company that creates, incubates, and invests in businesses that build trust in transactions, transparency in systems and efficiency in how our world works. Through strategic capital allocation and pioneering business ventures, Block.one has funded more than 100 innovative entrepreneurs to date. Block.one's subsidiaries, Bullish and Voice, are empowering people to architect integrity across the financial services industry and social media ecosystem. Block.one is also the creator of EOSIO, a highly performant leading open-source blockchain software, built to support and operate safe, compliant, and predictable digital infrastructures.
Led by veterans of innovation, Block.one is backed by some of the most successful investors of our generation. For more information, please visit B1.