Avalanche Foundations Blizzard Fund and JAM FINTOP Blockchain Back Intains distribution of Blockchain in traditional financial systems
NEW YORK, July 6, 2022 / PRNewswire / – Intain Inc., a leading blockchain-enabled structured finance platform for issuers and investors to connect in an efficient, secure and reliable way, today announced the completion of a round of financing. The funds will be used to scale Intain MARKETS, a marketplace for structured finance that is planned to be launched in July.
The limited funding round included the participation of investors who share Intain’s vision to bring traditional financial institutions and real values to the blockchain. Major investors included Blizzard, a venture capital and incubation fund managed by the Avalanche Foundation and supporting projects in the Avalanche community, and JAM FINTOP Blockchain, a financial institution-focused venture fund for blockchain infrastructure.
Intain’s service and administration platform, Intain ADMIN, has achieved incremental use in the securities field. With assets approaching $ 5 billion in value across a number of classes and agreement structures currently managed on Intain ADMIN, the company is well positioned for the next phase of growth and launch of Intain MARKETS, the marketplace for structured finance.
Intain plans to launch Intain MARKETS in the summer of 2022 and will use the funds from the investment round to acquire intellectual property rights to the artificial intelligence software to validate assets, while increasing technical teams in Indiaand product and sales teams in the United States
“Avalanche and JAM FINTOP represent the strategic blend of two financial worlds and are in line with Intain’s mission to build the digital future of traditional structured finance, enabled by blockchain,” said Siddhartha, founder and CEO of Intain. “We are not creating a new asset class or offering a 15% APY risk-free return. We are building a transparent and efficient version of the existing financial system. We have worked hard to develop the most robust structured financial management platform on the blockchain and are pleased to be recognized by blockchain industry leaders and prominent financial services companies, who invest in our platform as we build a marketplace. “
Intain chose Avalanche for Intain MARKETS because of its subnet architecture and focus on DeFi. Subnet architecture allows platforms such as Intain to create a permitted area for selected financial institutions.
“Subnets will catalyze explosive growth and use of institutional DeFi,” he said Lydia Chiu, Vice President of Business Development at Ava Labs, on behalf of the Blizzard Fund. “Each subnet can be tailored to the exact needs of the application, including customizable gas charges, finance, validation kits, KYC requirements and much more. We are excited to support Intain as it launches the first structured financial marketplace with end-to-end chain management . “
By uniting the issuer, the verification agent, the guarantor, the serviceman, the trustee, the rating agency and the investor on an integrated and automated platform, Intain will create a $ 10–20 million structured financial transaction viable. This ability to securitize at smaller intervals will give a greater concentration of asset lenders access to a wider investor pool and make their capital raising more efficient.
In addition to bringing in a new set of investors attracted to smaller ticket sizes, with the openness and auditing ability established on the blockchain, it will provide better risk-adjusted returns to current investors and cycle capital at a faster pace. This is one of the most important benefits of running loan verification and administration through blockchain.
“We invest in companies that are committed to solving the problems in the financial world, so Intain is naturally suited to our portfolio and network of over 90 regulated financial institutions. Intain’s mission to use blockchain technology to enable structured finance is crucial to an industry. Historically charged with “complexity, inefficiency and intermediaries, and we believe its go-to-market strategy is consistent with how companies will adopt and use distributed ledger technology in this area over time,” he said. Ryan Zacharia, General Partner in JAM Special Opportunity Ventures. “We believe that Intain possesses the team, technology and strategic partners to become the primary engine for bringing real structured credit to the chain.”
About Intain:
Intain builds blockchain-enabled digital platforms for transparency and efficiency in capital market transactions, with the first focus on structured finance. Founded by financial professionals and technology veterans, Intain understands the impact – benefits and risks – of technology in financial services. Intain is committed to diversity in fintech and more than 50% of its employees are women. For more information visit www.intainft.com.
About the Blizzard Ecosystem Fund:
Blizzard is a $ 200M + fund that accelerates development, growth and innovation across the Avalanche ecosystem and beyond – composed of contributions from, among others, the Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital.
About JAM FINTOP:
JAM FINTOP brings together banking experts and experienced fintech entrepreneurs to invest in companies that are changing the way financial institutions and their customers move, track and trade money. JAM has a 27-year history of investing in public and private community banks, and FINTOP Capital is a leading fintech investor with over 140 years of collective experience. For more information visit www.jamfintop.com.
JAM FINTOP is a joint venture between JAM Special Opportunity Ventures (“JSOV”), a subsidiary of Jacobs Asset Management (“JAM”), and Nested Rails (d / b / a FINTOP Capital).
Jacobs Asset Management and JAM Special Opportunity Ventures are not affiliated with Nested Rails (d / b / a FINTOP Capital).
Media contact: Philip Robertson
Email: [email protected]
SOURCE Intain Inc
