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Cryptocurrency: Security

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Securrency Raises $30M in Funding, Leads in Finance Crypto Patents

Cryptocurrency: Security Patent Forecast®

April 29, 2021

Securrency uses blockchain technology to automate and regulate compliance and transactions for decentralized finance (DeFi), which does not rely on centralized banks, exchanges, or other traditional financial institutions. The company has raised $30M in a Series B funding round, bringing its total funding to $64.5M according to Crunchbase. Securrency's patent portfolio includes eight (8) patent assets, which is a relatively strong position for a startup in the finance subcategory of the Cryptocurrency Patent Forecast®. However, these are all pending, with no enforceable rights yet. Most large financial institutions, including Bank of America and Mastercard, have fewer patents in this area, focusing instead on payment systems and security. 

Securrency is creating a universal, decentralized platform for financial transactions that depends on smart contract technology. Another company, Luther Systems, has three (3) patent assets for smart contracts but has diversified its platforms to real estate and insurance in addition to finance. Will this be a strategy for Securrency in the future? Most other DeFi companies are not present in the sector, which gives Securrency a strong position for expanding use of its platform in the future. You can keep up with decentralized finance and other cryptocurrency trends on the Patent Forecast®. 



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