The Stellar Development Foundation (SDF) announced on Wednesday its $715,000 investment in decentralized stock exchange DSTOQ, all of which were made in Lumens token.
Big News: announces SDF’s first enterprise fund investment in DSTOQ
— Stellar (@StellarOrg)
Based on blockchain, DSTOQ is bringing traditional stock trading of major companies to areas where their trading options are limited. Along with bluechip stocks, the platform will also list bonds, indices, and commodities, allowing their trading against fiats and digital currencies.
“At SDF, we seek to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered,” Denelle Dixon, CEO and executive director of the Stellar Development Foundation (SDF), said.
“DSTOQ’s sharp focus on cross-border investing and their unique approach to helping people in emerging markets to gain access to abroad speaks directly to our mission at SDF. Together, we hope to improve the lives of millions of people while simultaneously creating exciting new business opportunities.”
Opportunities lie in the emerging markets
As explained in the press release, DSTOQ will tokenize the company stocks, significantly lowering the trading cost.
The Liechtenstein-registered company will first launch its services in Vietnam and then tap other emerging African markets including South Africa. The company also has plans to expand in other developing Asian markets and South America as well.
DSTOQ is also entering into partnerships with European banks with strong ties in the Asian markets, the details of which are still unknown.
It also raised $1.86 million in a while launching in 2018, per Crunchbase.
“Together, DSTOQ and SDF aim to improve financial inclusion in markets that desperately need better access to global products. For too long these markets have been ignored – we look forward to changing that with this exciting technology,” Craig Mc Gregor, CEO and co-founder of DSTOQ, said.
Be First to Comment