Wisconsin financial technology startup Sequoir has secured seed funding ahead of the expected rollout of its blockchain technology to banks and credit unions starting June 1.
The Green Bay-based company raised $1.7 million in a seed funding round led by Grey Elephant Solutions LLC, Sequoir announced recently. Through integration with Jack Henry & Associates (Nasdaq: JKHY), it will have access to potential partnerships with the more than 1,700 banks and credit unions that use Jack Henry’s core technology services, Sequoir founder and CEO Justin Seidl said.
Sequoir, whose name is a mashup of “secure” and “acquire,” intends to enable banks and credit unions to more easily offer cryptocurrency trading and custody, or the secure storage of digital assets. The startup also is working on technology to enable banks to accept digital assets as collateral.