Well-Established Investment Company Dives into Cryptocurrency Industry
Morgan Stanley was one of the primary funders for a new blockchain platform
Calling it the ‘future of finance,’ Morgan Stanley led a nearly $50 million fundraising effort for Startup Securitize Inc., an emerging blockchain platform used in cryptocurrency trading. The move is the first for the investment firm.
“We make long-term investments in businesses and asset classes that are ahead of the curve,” says Pedro Teixeira, Managing Director at Morgan Stanley, who will join Securitize’s board. “Our investment in Securitize is a sign that we believe in the growth and adoption of digital-asset securities.”
As Wall Street delves into digital currency as a legit form of investment, Miami is also becoming a more significant player in the cryptocurrency industry. The city recently hosted a Bitcoin conference and welcomed a blockchain company’s move to the area.