Blockchain identity startup Cambridge Blockchain has formed a new subsidiary in Paris.
The new company, Cambridge Blockchain SAS, aims to accelerate European deployments of the Cambridge Blockchain’s digital identity compliance software for financial institutions. It is located at the Partech Shaker startup campus.
Earlier in February, Cambridge Blockchain announced the closing of a $2 million convertible note, with participation from leading technology investors Partech Ventures and Digital Currency Group (DCG).
“We are pleased to see Cambridge Blockchain launch its European operations just a few months after our investment,” explained Romain Lavault, General Partner at Partech Ventures. “Thanks to our ‘Europe Made Easy’ support program for foreign entrepreneurs, the Partech Shaker is the perfect place to hire top employees, connect with a highly international startup ecosystem and do business with major corporates from all industries.”
In addition, Cambridge blockchain also announced that it has joined the Infrachain blockchain initiative. Supported by the Luxembourg government, Infrachain aims to bridge the gap between the maturing blockchain technologies and the regulatory and legal requirements. Its founding members include the likes of Deloitte, KPMG, and Grant Thornton, among others.
“We are very proud to have Cambridge Blockchain join Infrachain as we create a pan-European community accelerating the adoption of Blockchain technology,” remarked Marco Houwen, Project Lead of Infrachain. “Infrachain acts as an orchestration platform between blockchain applications and a European network of independent certified nodes. We look forward to bridging the gap between the not-yet-compliant public blockchains and the centralized regulatory environment.”
“Thanks to the support of Partech Ventures and Infrachain, we are positioned to tackle the banking industry’s greatest threat: the cost of regulatory compliance,” said Matthew Commons, CEO of Cambridge Blockchain. “It’s exciting to consider how our technology not only aligns with our European partners, but serves as a catalyst to solve some of the most complex regulatory challenges facing financial institutions.”
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