A blockchain trading platform named Dinari, based in California, recently made an exciting announcement. They’ve managed to secure $7.5 million in funding during a seed funding round, according to a report from Bloomberg. This funding is going to be used to develop Dinari’s innovative trading platform further.
What makes Dinari stand out is that it’s a platform where people from outside the United States can buy shares of well-known American companies and exchange-traded funds in a way that complies with regulations. The company’s goal is to make it easier for non-U.S. users to invest in U.S. businesses.
The funding they’ve received will help them expand their platform, particularly the blockchain-powered dShare Platform. This platform ensures that people from around the world can securely and transparently invest in publicly traded corporate equity securities.
Dinari’s dShare Platform is built on blockchain technology, which offers several advantages. It provides transparency, which means that ownership of securities can be tracked. Transactions are also settled instantly, and users can trade using a crypto wallet. However, it’s important to note that the platform doesn’t hold onto users’ assets; they’ll need to use specific crypto wallets based on Arbitrum to trade and store their investments.
Unlike other similar projects, the tokens available on Dinari’s dShare Platform, including stablecoins like USDT and USDC, are backed by real underlying securities in a 1:1 ratio. This means that the value of these tokens is directly linked to the assets they represent. Still, Dinari faces some regulatory challenges in various countries.
Chas Rampenthal, who is one of Dinari’s co-founders and also serves as the Chief Legal Officer, shared that this funding round is part of the company’s strategy to increase its visibility in the market gradually.
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The investors who participated in this funding round include Third Kind Venture Capital, SPEILLP, 500 Global, and Balaji Srinivasan, who was previously the Chief Technology Officer at Coinbase. Sancus Ventures and Version One VC also joined in as investors during this round.
Dinari was established in 2021 and has made significant moves in the financial industry. They’ve acquired a broker-dealer in the United States and have been officially registered with the Securities and Exchange Commission as a transfer agent. This regulatory status allows them to distribute dividends and maintain accurate records of securities ownership. The company’s big-picture goal is to evolve into a fully operational exchange for trading securities.