Cion Digital, the developer of the enterprise SaaS blockchain orchestration platform, announced on Tuesday that it has completed the most recent $12 million seed round of financing. This round of financing was overseen by Green Visor Capital and 645 Ventures, who have joined Cion Digital’s board of directors. In addition, Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures also participated.
After the financing, the company expressed its intention to allocate these funds to its new resource and development center in Pune, India, to further expand the payment infrastructure of the project.
There, the team hopes to introduce a new method of adopting cryptocurrencies for traditional financial services as part of its current orchestration platform. In addition, the funds will be used to promote new standards for interoperability.
According to Snehal Fulzele, the co-founder of Cion Digital, its business model will include fixed monthly platform fees and transaction fees that scale with the number of digital assets being processed.
Cion Digital stated that it hopes to use these extensions to cover a wider and more diverse customer base. These expanded features include the Fintech Lending Agreement, which provides customers with an easy way to invest in cryptocurrency and allows customers to use cryptocurrency as collateral to obtain legal loans, and a vehicle transaction agreement program that can create cryptocurrency financing Target young consumers.