New York — Digital Asset, a blockchain start-up funded by some of the world’s largest banks, has raised $40m as it expands globally. The funding round was led by Jefferson River Capital, the family office of Tony James, president and chief operating officer of private equity firm Blackstone, Digital Asset said on Monday. The round brings the total raised by Digital Asset, which is led by former JPMorgan banker Blythe Masters, to $110m. The company also said it had hired Clyde Rodriguez, a former co-chief technology officer of hedge fund Two Sigma Investments as chief information officer and chief technology officer of engineering. Blockchain, which first emerged as the software underpinning cryptocurrency bitcoin, is a shared record of transactions that is maintained by a network of computers on the internet. Financial institutions have been investing millions of dollars in the technology in the hopes that it can help them cut costs and simplify some of their back office processes. ...
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