California-based Baton Systems has secured $12 million in its Series A funding round to develop a blockchain-based payments system.
The round was led by Trinity Ventures and participated by big names including Alsop Louie and Commerce Ventures.
Commenting on the funding, Arjun Jayaram, chief executive of Baton Systems, said: “This investment provides us with the strategic support and firepower to scale our bank-to-bank payment solution for the world’s leading financial institutions even faster and more effectively.”
On-boarding big players
Founded in 2016, the California-headquartered company is aiming to make the settlement process more efficient with a peer-to-peer payment infrastructure. Per the company, it has partnered with three of the top ten global banks, along with multiple exchanges and clearinghouses to deploy its technology. Read More at FinanceMagnates...