Cion Digital – a developer for an enterprise SaaS blockchain orchestration platform – reportedly disclosed details of a successfully acquired $12 million capital injection via fundraising. 

Specifically, the round reportedly included the oversight from Green Visor Capital and 645 Ventures, who have since become members of Cion Digital’s board of directors. 

Moreover, Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft, and Ulu Ventures reportedly also took part in the funding round. 

Following the funding acquisition, the firm reportedly revealed its decision to channel the capital injection towards its new resource and development center in Pune, India, in a bid to achieve further expansion of the initiative’s payment infrastructure.

There, the team reportedly has expectations of introducing new measures that support crypto adoption for traditional financial services, as included within the scope of their existing orchestration platform.

Furthermore, this funding will reportedly be dedicated to pushing new standards associated with interoperability.

Per Cion Digital’s co-founder Snehal Fulzele, its business model will reportedly be made up of a fixed, month-to-month platform fee apart from a transaction fee, which scales with the number of virtual assets currently in processing.

Cion Digital reportedly shared its hope of utilizing these expanded features to achieve a wider, more diverse pool of clients. Said features include a fintech lending protocol – offering a simplified measure for patrons to make investments in crypto, together with enabling customers to take out fiat loans using crypto as collateral. 

There is reportedly also a protocol supporting vehicle dealing, which has the capability to form a crypto-financing plan, catering to consumers of a younger demographic.