UBS Blockchain Partner Clearmatics Taps Investors for Funds
- Route 66 Ventures, Tellurian Capital among investors
- `Billions' of costs in play with blockchain, UBS's Murphy says
This article is for subscribers only.
Clearmatics Technologies Ltd., the company working with UBS Group AG on a blockchain-based digital coin to redesign the global payment system, completed its first round of funding.
Route 66 Ventures LLC, Tellurian Capital Management LLP and Nyca Partners are among the investors, Robert Sams, founder and chief executive officer of London-based Clearmatics, said on Wednesday. The backing is the latest sign of interest in using blockchain, the software behind bitcoin, to make transferring and tracking the ownership of bonds, loans and other assets faster and cheaper and to minimize operational risks.