Digital Asset Holdings, the startup led by ex-JPMorgan exec Blythe Masters, is apparently having issues closing an inaugural investment round. Blythe’s previous employer JPMorgan Chase & Co has already committed about $7.5m to the undisclosed round, but Digital Asset has been struggling for some time to complete the deal with other investors, according to The New York Times.
Digital Asset is hoping to raise $35m to $45m in the funding round, which would value the startup at $100m, according to the report, figures that align with those published in a New York Post exclusive earlier this month. The news is notable as Masters has become something of a figurehead for the fledgling blockchain industry and, since taking on the role of chief executive at Digital Asset in March, is rumored to have been working to promote blockchain technology within Wall Street institutions.
Launched in early 2015, Digital Asset has been quiet in public until recently, when it announced it was involved in an open-source blockchain project spearheaded by IBM. Digital Asset representatives have denied allegations in the Times report.