Galaxy Digital Leads $20M Funding for Fintech Firm Fence on April 29

According to BlockBeats, Galaxy Digital led a $20 million funding round for fintech company Fence on April 29, with Parafi Capital and Crane Ventures participating. Fence plans to use blockchain, smart contracts, and tokenization to modernize back-office operations in the $6 trillion asset-backed finance market, targeting U.S. market expansion and product development.

Fence's platform currently manages approximately $1.5 billion in assets and works with institutions including BBVA, BlackRock, and Fortress Investment Group. The company aims to replace manual processes reliant on Excel, PDF, and email with automated systems for real-time data updates and settlement.