Baton Systems: Funding with $4m Investment
- Baton Systems, a provider of DLT-based bank-to-bank payments middleware for connecting disparate ledgers both on and off a blockchain
- This is the first investment Illuminate has made in a company offering DLT-based tech
- Baton, a provider of distributed ledger-based clearing and settlement technology, will use the investment to expand into EMEA
- Illuminate joins Trinity Ventures, Alsop Louie and Commerce Ventures, which all participated in a Series A round last year
- Baton is working to simplify the “remarkably archaic” payments process in global banking
- Blockchain initiatives may offer great potential but require participants to agree on protocols or standards
