RATE Group | Samsung and Salesforce invest in cryptocurrency company
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Samsung and Salesforce invest in cryptocurrency company

08 Feb Samsung and Salesforce invest in cryptocurrency company

Posted at 20:07h in Cryptocurrency News by

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Two major venture capitals—Samsung Venture Investment Corp (SVIC) and Salesforce Ventures (SV)—have backed Digital Asset, creator of the smart contract language DAML, in the second closing of its Series C funding round.

The two prominent VCs led the second round of financing, pledging an undisclosed amount of capital. SVIC—the investment arm of tech conglomerate, Samsung—  typically invests in future centric business models, boasting a current $2.2 billion under management.

“We strongly believe that Digital Asset’s model to embed DAML in partner platforms fundamentally changes the entire blockchain market,” said an SVIC spokesperson.

Samsung’s home in San Jose, California. Image: Shutterstock.

According to a Digital Asset press release, the funds will be used to “enhance the DAML developer experience” and further the adoption of the DAML smart contract language across a range of industries.

In its first funding round back in December, the blockchain startup managed to net…

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