Blockchain Startup Dapix Raises $5.7M USD To Launch FIO Protocol

Investing, News | September 6, 2019 By:

Dapix Inc, the company behind the initial development of the FIO Protocol, has raised $5.7 million in a Series A funding round led by Binance Labs, the venture arm of crypto exchange Binance. Other investors include Blockwall Capital, NGC Ventures, and LuneX Ventures.

The FIO Protocol enables simple, seamless, and universal integration with wallet and exchange providers, making the sending and receiving of tokens and coins between decentralized wallets easier and more user-friendly. The protocol will reportedly be guided by the Foundation for Interwallet Operability (FIO), a consortium of leading wallets, exchanges and cryptocurrency payment processors.

Dapix said that the funding will enable the FIO Protocol to deliver its mainnet launch in early 2020 with a number of integrated FIO Members products available for users.

“Binance and Binance Labs have a long-standing commitment to growing the cryptocurrency ecosystem and bringing more real-world adoption to blockchain,” said Ella Zhang, Head of Binance Labs. “We are delighted to advance blockchain usability as the lead investor in the development of the FIO Protocol. We were impressed by FIO’s dynamic business team and founders and look forward to working with the FIO team to achieve our mission together.”

Dapix also announced the debut of the FIO Address Presale, where individuals across multiple major wallets can begin to reserve human-readable FIO usernames and domains that will enable access to the FIO Protocol’s features upon its mainnet launch.

“The Internet was around for more than 10 years before a key usability protocol enabled usage to explode. Our goal is nothing less than to have the decentralized FIO Protocol enable a similar outcome for the blockchain ecosystem,” said David Gold, Founder and CEO of Dapix Inc. “We are humbled by the overwhelming support we’ve received from FIO Members, investors and Binance, who share our vision of improving usability and achieving mass adoption.”