Iconiq Lab Holding Gets A Million Plus Funding From VC Firms For Its Crypto Asset Management
Iconiq Lab Holding Gets Seven-Figure Funding From VC Firms
Iconiq Lab Holding GmbH has received seven-figure funding from FinLab AG and High-Tech Grunderfonds III GmbH & Co. KG.
The majority of the funds will go towards the improvement of the Iconiq Asset-Management-as-a-Service (AMaaS) solution. The remaining portion of the money will be distributed between the accelerator program (Iconiq Lab) and Iconiq Funds, the branch that deals with the issuance of index funds for digital assets.
Patrick Lowry, the CEO of Iconiq, thanked FinLab for supporting their project since its inception. He added that the company believes that the tokenization of rational assets will positively impact the adoption of cryptocurrencies. Lowry concluded by stating that AMaaS will help institutional investors in formulating strategies for investing in the crypto space.
The AMaaS solution has a variety of tools to assist business owners to navigate through crypto markets. Such instruments include an order book from leading exchange platforms, regulate crypto storage services and access to venture capital funds. Security in the AMaaS ecosystem is provided by the ICON Vault, digital wallet that offers both cold and hot storage for crypto assets.
The management teams from both FinLab and HTGF expressed confidence in the vision of the Iconiq project.