Two Sigma Ventures backs digital assets startup Trustology

Trustology has raised $8 million in a seed round led by Two Sigma Ventures, the early-stage venture capital fund of Two Sigma.

ConsenSys, a blockchain venture founded by Ethereum Co-founder Joseph Lubin, also participated in the round. The latter helped incubate Trustology.

The company is developing technology and services to help private and institutional clients secure digital assets. Founder Alex Batlin formerly led blockchain innovation work at UBS and BNY Mellon and was a founding member of the Enterprise Ethereum Alliance, Trusted IoT Alliance, Utility Settlement Coin and R3 consortium.

Matt Jacobus, Venture Partner at Two Sigma Ventures, says:: “We believe that a hot-storage solution with strong security and programmable controls is necessary to develop a larger, institutional trading ecosystem around digital assets. With their extensive backgrounds working at major financial institutions at the intersection of blockchain, technology, and product development, this is just the team to build it.”