Polysign

Polysign

Provides secure digital asset custody services

About Polysign

Simplify's Rating
Why Polysign is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

11-50

Company Stage

Debt Financing

Total Funding

$123.9M

Headquarters

Oakland, California

Founded

2018

Overview

PolySign provides infrastructure for institutions to manage and transact digital assets securely. The company uses a proprietary third-generation private blockchain, developed by experienced architects, to ensure high security for these assets. PolySign serves institutional clients like banks and investment firms, offering custody and transaction services that integrate with existing financial systems and comply with regulations. Unlike competitors, PolySign focuses specifically on the needs of financial institutions, ensuring security and compliance in the digital asset space. The goal is to drive the global adoption of digital assets by providing trusted solutions for institutions.

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Simplify's Take

What believers are saying

  • Increased demand for secure digital asset custody solutions boosts PolySign's market potential.
  • $53 million Series C funding enables PolySign to expand staff and accelerate development.
  • MG Stover's award highlights PolySign's strength in digital asset fund administration.

What critics are saying

  • Ripple's partnership with Tokentus may threaten PolySign's market share in blockchain.
  • Closure of Cowen's cryptocurrency division could impact PolySign's financial backing.
  • New CTO appointment may lead to transitional challenges and strategic shifts.

What makes Polysign unique

  • PolySign offers secure, scalable infrastructure for financial institutions' digital assets.
  • Renowned blockchain architects Arthur Britto and David Schwartz designed PolySign's proprietary technology.
  • PolySign integrates with existing financial systems, ensuring compliance with regulatory standards.

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Funding

Total Funding

$123.9M

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Meet Average

Industry standards

$50M
$50M
Medium
$53M
Polysign
$62M
SeatGeek
$100M
Oura

Growth & Insights and Company News

Headcount

6 month growth

-5%

1 year growth

-5%

2 year growth

6%
Bitcoinist
Oct 19th, 2023
Ripple And German Investment Firm Join Forces To Boost XRP Ledger

In an effort to advance the growth and adoption of the XRP Ledger (XRPL), Ripple Labs Inc. has partnered with Frankfurt-based Tokentus Investment AG, an investment company specializing in the blockchain sector.

Cryplogger
Jun 3rd, 2023
Cowen Investment Bank to Close Cryptocurrency Division – CrypLogger.com

Recall that in May 2021, Cowen invested $25 million in PolySign, the parent company of Standard Custody.

FF News
Mar 29th, 2023
Polysign Appoints Tech Industry Veteran Chuck Ocheret As Chief Technology Officer

PolySign, a leading provider of blockchain-enabled digital asset infrastructure for institutional investors, today announced the appointment of Charles (“Chuck”) Ocheret as its new Chief Technology Officer to oversee the next stage of its growth and technology development.Ocheret brings with him over 35 years of software engineering experience across the finance, multimedia, and scientific industries. He has previously run technology, architecture and development at tier one hedge funds and investment banks where he has held responsibility for algorithmic trading, program trading, index and statistical arbitrage, automated market making, order management, trade warehouses, research platforms, as well as client and market connectivity for some of the most successful and highest-volume trading operations in the world.He has presented on Distributed Ledger Technologies (DLT) and Cryptocurrencies in Financial Services to the United States House Committee on Agriculture and has served on the US Commodity Futures Trading Commission’s Technical Advisory Committee (CFTC TAC) providing recommendations around DLT, Artificial Intelligence, Cloud and Cybersecurity. He has also served on the CFTC TAC Subcommittee on DLT and Market Infrastructure.Commenting on the appointment PolySign CEO Jack McDonald said: “We’re thrilled to have Chuck join our senior leadership team as CTO of PolySign. With the various product initiatives we have underway at PolySign, Standard Custody and MG Stover, it was critical for us to find a professional of Chuck’s caliber and expertise in scaling infrastructure, coupled with his blockchain and digital asset experience.”Charles Ocheret Chief Technology Officer at PolySign said, “I’m humbled to be joining this talented team who share a brilliant vision for transforming the digital assets landscape. The most exciting projects for me are those with a large outward-facing impact on a global audience. What PolySign is doing will eliminate friction and obstacles for the digital assets industry

Fintech World Post
Mar 29th, 2023
PolySign announces appointment of tech industry veteran Chuck Ocheret as Chief Technology Officer | Fintech World Post

PolySign, a leading provider of blockchain-enabled digital asset infrastructure for institutional investors, today announced the appointment of Charles (“Chuck”) Ocheret as its new Chief Technology Officer to oversee the next stage of its growth and technology development.

Mondo Visione
Mar 3rd, 2023
MG Stover Wins Hedgeweek’s Best Administrator-Technology Award

MG Stover, the leading and longest tenured fund administration firm for digital assets and a subsidiary of PolySign, Inc., has won Best Administrator - Technology in Hedgeweek’s US Digital Assets Awards.

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