DMG Blockchain Solutions, a major blockchain and crypto technology business based in Canada, recently announced a $2 million strategic investment in Bosonic, a crypto company based in California.
DMG’s new investment in Bosonic, according to an official announcement shared with Finance Magnates, is a strategic endeavour aimed towards institutional adoption of cryptocurrencies.
DMG announced a strategic investment in crypto custodian Brane Capital in June 2021. The blockchain firm stated that its latest investment in Bosonic is complementary to its previous investment in Brane Capital, based in Ottawa.
According to the press release, DMG’s latest investment will give it access to two of Bosonic’s key technology infrastructures: institutional exchange and Layer-2 blockchain-powered clearing and settlement solutions, which are meant to reduce counterparty credit and settlement risk.
DMG CEO Sheldon Bennett said of the $2 million investment, ““By completing this transaction, DMG’s new partnership will help the Company develop more financial service-related functionality for the Blockseer Ecosystem. This initiative represents significant potential monetization of existing Blockseer clients and the ability of DMG for the first time to aggressively enter the consumer market for Blockseer platforms.”
Bosonic is one of the top technological organisations in the Digital Asset markets, offering the infrastructure to minimise counterparty credit and settlement risk. Leading custodians and exchanges are among the more than 60 members of the Bosonic Network. Due to a quick surge in demand for crypto-related services, the San Francisco-based company enjoyed tremendous growth this year.
“We are extremely excited to partner with DMG, whose Blockseer platform will power the world’s first digital asset ecosystem consisting entirely of clean energy mined and OFAC clean crypto. We believe this will help accelerate the adoption of cryptocurrencies by institutions and fiduciaries with its integrated mining, independent custody, and various trade execution facilities within a single environment. This initiative will set a new standard for ESG conscious investors interested in digital assets,” Bosonic’s CEO and founder, Rosario Ingargiola, made a statement.