The $12 million USD funding round will be used to help Clearmatics build the next generation of financial market infrastructure. Firms also participating in this financing round included Route 66 Ventures and XTX Ventures. As part of this announcement, Samir Khosla, Managing Partner at TNF Capital, will join the Clearmatics Board of Directors.

“We at TNF Capital are very pleased to deepen our commitment to Clearmatics through the Series A funding that builds upon the company’s excellent progress in delivering distributed ledger-based clearing networks”, said Khosla. “Its exceptional team under the leadership of Robert Sams, a visionary innovator, is bringing transformative change to financial market infrastructure. We see huge potential for  Clearmatics to trigger an exciting shift for wider market participants through its achievement of cross-chain interoperability.”

This financing round will enable Clearmatics to expand its team and accelerate its ongoing development work in permissioned, peer-to-peer networks, including its work on blockchain interoperability and transaction privacy. The company will also launch a Protocol Provider service next year to support the go-to-market of the Utility Settlement Coin Project, a consortium of 17 banks and financial institutions creating a new digital cash instrument collateralised by central bank money.

For more information, please visit the official news release.