The Malmö based startup Blocksettle, founded by Albert Janson and Scott Millar, have recieved a new round of capital in time for the launch of their blockchain platform which they hope to launch by the end of the year, reports Rapidus.

Blocksettle has developed a new key management system which allows for transactions to be validated and transferred without using a traditional bank as a verifier, for example in transactions from Bitcoin. They also want to make exchanges between traditional and virtual currencies much easier, as well as being able to transfer stocks to unlisted companies.

The company has recieved € 1,3 million in venture capital from mostly private business angels. The founders want to use this capital to build on the company in time for the launch. The company has 10 fulltime employees but are aiming to expand as the launch date gets closer.