- Hoseki, a bitcoin proof-of-asset infrastructure company, has completed a seed round of investments led by Stillmark.
- The company has already found 50 traditional lenders and mortgage brokers that will accept proof-of-assets documentation from Hoseki.
- Hoseki intends to use the capital to further product development and plans an open beta for its product during Q3 2022.
Hoseki, a proof-of-asset infrastructure service for bitcoin-native projects, has announced the completion of an investment seed round led by bitcoin-focused venture capital firm Stillmark and other prominent bitcoin venture investors, per a press release sent to Bitcoin Magazine.
“Hoseki provides a service that will enable unprecedented growth in the bitcoin economy by giving easy proof of ownership to anyone that holds bitcoin. We are excited for this next step in accomplishing our company’s mission,” said Sam Abbassi, founder and CEO of Hoseki.
With the closure of additional capital, Hoseki intends to accelerate development of technology and products geared towards infrastructure to meet the growing demand of verification services as it relates to the bitcoin ecosystem.
“Hoseki is unlocking an entirely new way for bitcoin investors to participate in the bitcoin economy where ownership does not exclude utility,” said Alyse Killeen, founder and managing partner at Stillmark.
Killeen continued to say “The Hoseki team understands that bitcoin is the world’s most pristine form of collateral, and we are thrilled to support their vision of providing digital asset ownership documentation to millions of bitcoin holders around the globe.”
Other notable bitcoin ventures participating in the seed round include Ten31, Castle Island Ventures and Avon Ventures. Nic Carter, founding partner at Castle Island Ventures explained the importance of being able to verify bitcoin assets for the future of lending by stating:
“Lenders and brokers are just beginning to understand the value of bitcoin-backed loans and they are increasingly eager to explore the larger role this asset will play in global financial markets.”
Hoseki intends to launch a private alpha version of its product to a test group with a public beta planned for Q3 2022. Anyone interested in the alpha program can learn more here.