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Sterling Bancorp (NYSE:STL) (“Sterling”), today announced an investment in JAM FINTOP Blockchain, LP (the “fund”), a venture fund that will focus its investments on blockchain infrastructure providers that help regulated financial institutions compliantly adopt and operate blockchain enabled applications in their business. The fund is managed by JAM Special Opportunity Ventures, an affiliate of Jacobs Asset Management, LLC (JAM), and FINTOP Capital.
Sterling is one of a group of Strategic Lead Investors in the fund which includes Figure Technologies, Inc. and Piper Sandler Companies and will sit on the JAM FINTOP Blockchain Committee. Sterling’s investment in the fund is the latest in a series of investments in the financial technology space, both through targeted investments in early stage fintech companies and through investments in funds that are focused on allocating capital to disruptive technology providers to the bank sector.
“We are excited to invest in the JAM FINTOP Blockchain fund. Blockchain has the potential to transform the financial system and we are actively exploring specific use cases that align to our long term strategic priorities and advance our innovation agenda,” said Bea Ordonez, Chief Financial Officer at Sterling Bancorp. “Partnering with the JAM FINTOP Network provides us an opportunity to collaborate with other forward thinking institutions, to become early adopters of this disruptive technology and to invest in companies that are providing solutions that drive transformation in the banking sector.”
Posted In: STL
