Cion Digital secures funds to expand blockchain orchestration platform

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Cion Digital, developer of an enterprise SaaS blockchain orchestration platform, announced on Tuesday that it closed its recent start-up fundraiser at $ 12 million. The cycle was overseen by Green Visor Capital and 645 Ventures who have since joined Cion Digital’s board of directors. In addition, Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures were also participants.

Following the increase, the company said it intends to allocate these funds to its new resource and development center in Pune, India, with the aim of further expanding the payment infrastructure of the project.

There, the team hopes to deploy new methods of cryptocurrency adoption for traditional financial services as part of their current orchestration platform. In addition, this funding will be used to promote new standards in interoperability.

According to Cion Digital co-founder Snehal Fulzele, his business model will consist of a fixed monthly platform fee in addition to transaction fees that scale with the number of digital assets being processed.

Cion Digital said it hopes to use these extended features to reach a larger and more diverse customer base. These extended features include a fintech lending protocol, which makes it easy for clients to invest in crypto and allows clients to take out fiat loans using crypto as collateral, and a vehicle trading protocol capable of creating crypto. funding. plan for young consumers.