The startup develops a distributed ledger technology protocol that enables banks to issue and redeem digital cash while ensuring transaction validation through legally issued keys. This system allows banks to operate within a legal framework similar to prepaid cards, eliminating the need for regulatory adjustments.
Funding
$17.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional systems for issuing and managing digital cash often face regulatory hurdles and may not provide the necessary security and transparency for financial institutions. Existing blockchain solutions can be complex to implement and may not fully comply with regulations regarding data privacy, AML, and KYC.
Solution
Billon provides a Unified Enterprise DLT System that enables banks and other regulated entities to issue and manage digital cash within a legally compliant framework. The platform leverages a permissioned, multi-tenant blockchain protocol that supports sovereign identity and ensures high performance and regulatory compliance for all asset classes. The system allows for on-chain document and data exchange, asset tokenization, and the creation of regulated digital cash, all secured by user-controlled identities. Billon's architecture is designed to be scalable, energy-efficient, and interoperable with existing systems, offering a secure and transparent solution for managing digital assets.
Target Audience
The primary target audience includes banks, financial institutions, and regulated entities seeking a secure, compliant, and scalable solution for managing digital cash and tokenized assets.
Features
- Permissioned, multi-tenant distributed ledger technology
- Compliant with GDPR, eIDAS, and other relevant regulations
- Supports on-chain storage of documents and data with client-side encryption
- Facilitates the tokenization of real-world assets and financial products
- Enables the creation and management of regulated digital cash
- Incorporates KYC and AML processes at the protocol level
- Offers a multi-issuer model for decentralized control
- Provides APIs for integration with existing enterprise systems
- Supports both self-sovereign and sovereign identity constructs
- Achieves high throughput and scalability through a cooperative proof-of-stake consensus mechanism