Representatives of the Halborn company told where they planned to direct the $90 million they raised during the funding round. The organization confirmed that previously published information about the collection of this amount is entirely accurate.
According to the firm’s management, Halborn aims to empower significant brands to integrate and secure cryptocurrencies. The company said they managed to enlist the support of big investors like Castle Island Ventures, Digital Currency Group, and Brevan Howard. Summit Partners became the leader of the round. In addition to receiving funding, Halborn has entered into strategic partnerships for the project’s long-term development.
It was stated that the funds received will be used to expand the state and create new tools to increase the security of storage and circulation of cryptocurrencies. Representatives of the organization said that the current collapse of the digital asset market affects the startup’s activities.
Halborn managers assured that in the last year, the demand for the company’s services had increased several times due to the increasing frequency of hacker attacks that managed to steal billions of US dollars (USD). Developers are trying to create tools that can prevent large-scale exploits.
In addition, the firm is ready to help companies such as Amazon.com, BNY Mellon and Nike Inc securely integrate digital currencies into their payment systems.