Etherealize, a startup that develops infrastructure to help recruit Wall Street agencies, has jointly raised $40 million by electricity capital and paradigm.
New Capital is based on previous grants from Vitalik Buterin and the Ethereum Foundation, and will help fund the development of Etherealize’s zero-recognized privacy system, payment engines, and applications for tokenized, fixed income markets.
“The Rays will launch a ‘institutional merge’ and upgrade the institution’s funding to modern, safe and globally accessible rails,” said Danny Ryan, former co-founder of the Ethereum Foundation, in a announcement Wednesday.
Etherealize’s ETHERIZE will assemble ETH as an institutional reserve asset, complementing recent institutional developments regarding Ethereum, complementing participation in regulatory debates regarding Capitol Hill.
BlackRock has launched a tokenized money market fund on Ethereum to signal support for blockchain-based asset issuance, and JPMorgan’s Kinexys platform is increasing for real-world asset tokenization and on-chain USD payments.
With this funding, Etherealize aims to quickly track the development of financial infrastructure that makes Ethereum the invisible backbone of institutional markets.
