As institutional investments in cryptocurrency industry continue to grow, S&P Global and State Street join the bandwagon and delegate $15 Million in Crypto firm Lukka.
S&P Global and State Street Corporation have invested massively in the blockchain startup Lukka creating a substantial foundation for the S&P Dow Jones cryptocurrency indices to be launched soon.
Lukka Raises massive funding in Series C funding round
Lukka cracked a massive deal with one of the largest index providers of the world S&P Dow Jones Indices for delivering the price points for the various cryptocurrencies to the Wall Street exchange. The company raised a massive $15 million in investment from CPA, Street Corp and S&P in the series C funding round. The investment is one of the first ventures of S&P in the crypto currency markets.
The company came into existence in 2014 and has raised more than $25 million in previous funding rounds. Lukka has created immense popularity and repute for itself in the crypto markets with its delivery of institutional grade software for the cryptocurrencies. The traditional firms are looking up to Lukkas software as they comply with the audit guidelines and follow the right methodologies.
The funding from S&P is intended to bolster the S&P Cryptocurrency indices to be delivered by Lukka. The data would help the various crypto desks to help the investors who have limited understanding of asset class and quoting on it. The coin traders have often doubted the numbers showcased by the cryptocurrency exchanges. Since the cryptocurrency industry is still in its evolution reliable indices from a renowned provider like S&P Dow Jones Indices would be extremely helpful in guiding the traders and investors.
The recent investment from State Street and S&P is highly envisioned on Lukka’s potential to tap the cryptocurrency industry. Lukka has a portfolio of tax software and data management software
Lukka would extend its capabilities and offerings in the institutional grade software and data reporting services to the mainstream financial businesses to leverage the growing interest in the cryptocurrency space. Lukkas offerings include a series of features that translate the complex crypto and blockchain data to simpler information. Such information is comprehensive for the traditional businesses.
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