$22.5 million in seed funding announced by Web3 Infrastructure Firm Fortress Blockchain Technologies

With a team of 84 full-time product managers and software engineers, a primary focus of this B2B FinTech/BlockTech infrastructure firm is the ongoing development of the Fortress technology initiatives for API-embedded, easy-to-use NFT and crypto wallets, API-driven and white-label minting engines for fungible and non-fungible tokens, and its proprietary core financial and trust services system.

In addition to engineering, Fortress has invested heavily in its regulatory initiatives. This has included letting Albert Forknerformer Banking Commissioner (WY) and Chairman of the Conference of State Bank Supervisors as CEO of the firm’s wholly-owned subsidiary, Fortress Trust, and he successfully guided the firm to obtain trust charter and build a complete financial services stack including asset custody, payments, compliance, trustee, crypto-liquidity and other tools needed by Web3 innovators.

Now in the “go-to-market” phase of the startup lifecycle, funds are being used to build a world-class sales team. Ryan Millerformer Head of Sales at multi-billion dollar FinTech MX Technologies, has joined Fortress as its Chief Revenue Officer and is now building a team of enterprise sales veterans across a range of industry verticals.

“Tokenization of information and assets via fungible and non-fungible tokens will transform the world” noted Scott Purcellfounder and CEO of Fortress, “and we look forward to helping Web3 innovators of all types, from Fortune 500 brands to FinTechs to next-generation startups with the financial, regulatory and technology infrastructure they need to build incredible businesses.”

“With our extensive investments in the crypto ecosystem, we are seeing first-hand the transformative impact that blockchain has and will continue to have on all aspects of society,” said Rahul Pagidipati of Ayon Capital “and as a fund, our unique thesis is to only support world-class entrepreneurs who have the vision and ability to execute, we are delighted to support Scott, Kevin, George and their team in this venture.”

“Technological and societal paradigm shifts are ushering in Web3. Fortress is one of the critical building blocks for this next wave of the Web,” said Soaring Investment Management director, Frank Zhang. “Fortress is positioning itself as the infrastructure partner of choice for celebrities, corporate brands, crypto exchanges, NFT marketplaces, real estate brokers, neo-banks, FinTechs, healthcare firms and others entering the space with their Web3 initiatives.”

The funding will enable Fortress to continue writing software, begin expanding its regulatory services globally, and build sales and operations teams to support a wide variety of B2B customers across a variety of industries.

About Fortress Blockchain Technologies

Fortress Blockchain Technologies is purpose-built to deliver financial, regulatory and technological infrastructure to the rapidly growing Web3 space. The firm offers financial services including compliance, payments, custody, trustee, escrow, crypto-liquidity and other services, as well as a minting engine for fungible and non-fungible tokens along with an NFT and crypto wallet that is secure, user-friendly and embeddable third-party mobile and web applications. Fortress Trust Company is a wholly owned subsidiary of Fortress Blockchain Technologies and is a full retail business Nevada– chartered financial institution.

SOURCE Fortress Blockchain Technologies