Flush With Cash, Blockchain Startup Inks Partnership

Mainstream financial market players seem to be embracing the collaborative approach to blockchain innovation.

Blockchain startup Digital Asset Holdings is the latest young company to secure the support of some big names. On Wednesday (Feb. 17), the firm revealed that it has struck a partnership with consulting firm Accenture, financial services firm Broadridge and professional services group PricewaterhouseCoopers in an effort to fuel adoption of Digital Asset’s distributed ledger technology tools.

“These alliances will accelerate innovation, drive growth and broaden our reach in different segments across the world,” said Digital Asset CEO Blythe Masters, also a former JPMorgan investment banker, according to reports.

Through the collaboration, Accenture will reportedly provide its consulting services, as well as systems integration support. Broadridge, meanwhile, will provide support in identifying opportunities for businesses to adopt blockchain technology, and PwC will work with Digital Asset clients to educate them on the tools and technology.

The collaborations are Digital Asset’s next big win. Only a few weeks ago, the company secured $50 million from an array of investors, including Citi, Santander InnoVentures and Deutsche Börse. Thirteen investors in total participated in its funding round, reports said.

Simultaneously, investor ASX awarded Digital Asset with a contract to use distributed ledger technology for post-trade settlement.

“Distributed ledger technology has the potential to transform the way our industry does business, and we believe Digital Asset has the right talent and technology to make it a reality,” said chief administrative officer of JPMorgan’s corporate and investment bank and new Digital Asset board member, Sanoke Viswanathan, at the time the investment was announced.