Regulated token issuance technology provider Securitize has raised $14 million from investors including the investment arms of major financial companies.

Securitize announced in a press release Tuesday that the funding – an extension of its Series A round – was backed by Santander InnoVentures, MUFG Innovation Partners and Nomura Holdings. Also participating this time round were existing investors of the Series A, Blockchain Capital, SPiCE VC, and SeedRocket4Founders.

The firm plans to use the cash injection to carry on developing its technology platform with the grand aim of "modernizing the legacy securities industry."

The $14 million investment brings Securitize's total funding to date to over $30 million, according to its own figures.

Carlos Domingo, co-founder and CEO of Securitize, said in the announcement:

The firm was notably approved by the U.S. Securities and Exchange Commission to act as a transfer agent and official keeper of records on changes of securities ownership late last month.

Securitize's DS Protocol, the firm says, allows the management of secondary trading and corporate actions for digital securities. It further claims to have the "highest adoption rate in the industry," having issued 11 digital securities already with "dozens" more on the way.

Explaining why Santander is backing the firm, Manuel Silva Martínez, partner and head of investments at Santander InnoVentures said the firm is "betting" on companies that are "reengineering core pieces of our industry's infrastructure through blockchain technologies." Securitize will boost the bank's ability to take part in the digital securities market, he added.

A sizable contingent of Asian investors were also involved in the funding round, including the venture arm of major Japanese telco KDDI, the innovation arm of Japanese real estate developer Mitsui Fudosan, Hong Kong-based blockchain venture firm Kenetic Capital and China-based blockchain investment firm Fenbushi Capital.

Securitize suggested the group highlighted a "growing appetite" for digital securities in the region.

The list of backers further includes the Tezos Foundation and Algo Capital VC, which participated as part of collaborations to put digital securities on the Tezos and Algorand blockchains.

Carlos Domingo image via CoinDesk archives