- Recently, an Amsterdam based fintech firm, Dusk Networks have received an enormous €840,000 from iFinex Inc for furthering blockchain technologies in the world of finance.
- The Business Director at Dusk Network, Jelle Pol said that with this partnership with iFinex, they can include the experience and user base of one of the largest and successful companies in the blockchain industry.
Blockchain technology and its new applications are gaining acceptance from many industries and especially financial sectors. This is because blockchain is secure and provides great transparency. Recently, an Amsterdam based fintech firm, Dusk Networks have received an enormous €840,000 from iFinex Inc for furthering blockchain technologies in the world of finance.
Dusk Network is Known for Providing Blockchain Solutions to Companies
Dusk Network is an open source infrastructure that uses the distributed ledger technology (DLT) which is used by companies to tokenize financial instruments and to automate procedures which are expensive. Dusk provides innovative services and products that are completely based on blockchain and can be easily used in the finance sector. Companies use the Dusk infrastructure to issue tokens and trade them using smart contracts. In short, Dusk Network is a technology for securities. On the other hand iFinex is a Hong Kong based Fintech firm and the parent company of the famous cryptocurrency exchange, BitFinex.
iFinex Invests $1 Million in Dusk Network to Enhance its Development Procedures
In its recent venture with Dusk, it has invested $1 million to enhance the development work of regulated Security Token exchange. Following the collaboration, Dusk Network can rely on iFinex’s versatility to boost its launch and further the development process. The Business Director at Dusk Network, Jelle Pol said that with this partnership with iFinex, they can include the experience and user base of one of the largest and successful companies in the blockchain industry. And by the time Dusk is ready for the launch, it will be a part of the world’s first regulated security token exchange that merges the best of both the world: finance and blockchain. The CTO of BitFinex, Paolo Ardoino said that with this investment, Dusk network is poised to bring the benefits of tokenization to the regulated market.
Collaboration Will Bring New Opportunities in the Finance Sector
Moreover, the timing of the collaboration couldn’t be any better. With the DeFi boom in full force, the partnership can reach new heights. This is because DeFi supports the use of technology to transform the conventional financial system. The project mainly involves the digitization of the securities which in turn will enhance the liquidity and transferability of the assets. And on top of everything the collaboration will bring diversity among the experienced investors as it opens a new door of opportunities and experiences in the asset market that were previously unlocked.
Source: EDITOR TCR . “Dusk Network Collaborates With iFinex to Build a Regulated Security Token Exchange, https://www.thecoinrepublic.com/2020/09/05/dusk-network-collaborates-with-ifinex/?amp_js_v=0.1&usqp=mq331AQFKAGwASA%3D