Cambridge Blockchain Joins Government-Backed DLT Group in Luxembourg

Massachuetts-based digital identity startup Cambridge Blockchain is opening a new office in Paris.

Sep 7, 2017 at 5:00 p.m. UTC
Updated Sep 13, 2021 at 6:54 a.m. UTC

Digital identity startup Cambridge Blockchain is opening a new office in Paris.

The Massachusetts-based firm is setting up shop at at a startup campus founded by Partech Ventures, which invested in Cambridge Blockchain's $2 million funding round earlier this year.

That the startup would move to establish a more solid presence in Europe is perhaps unsurprising. Cambridge Blockchain has looked to the financial sector as the primary market for its digital identity solutions, with a particular focus on Europe.

In May, Cambridge Blockchain announced that it was working with LuxTrust, a major digital identity firm backed by the government of Luxembourg, on a new blockchain-powered platform. That relationship with Luxembourg is deepening, as Cambridge Blockchain today said that it was joining the Infrachain initiative, a nonprofit group formed earlier this year by a number of companies with the backing of the country's government.

Other members include LuxTrust and professional services firms KPMG and Deloitte, among others. With Cambridge Blockchain's inclusion, that effort has now expanded beyond Luxembourg.

"Thanks to the support of Partech Ventures and Infrachain, we are positioned to tackle the banking industry’s greatest threat: the cost of regulatory compliance," Matthew Commons, Cambridge Blockchain's CEO, said in a statement.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Cambridge Blockchain.

Map image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
2
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
3
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown
4
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown