Operator Of Crypto Exchange Bitfinex Invests Over $1M In Dusk Network’s Security Token Exchange Project
Ifinex, the parent company of crypto exchange Bitfinex, has invested over $1 million into Dusk Network‘s security token exchange project.
Dusk Network is a privacy-oriented blockchain protocol that anyone can use to create zero-knowledge dApps. The company’s mission is to enable any size enterprise to collaborate at scale, meet compliance requirements and ensure that personal and transaction data remains confidential. The company’s exchange project is designed to bring liquidity and transferability to assets. It will allow wider, qualified investor audiences to partake in previously inaccessible opportunities and bring wholly new assets to market. The profile of the assets that can be listed include products such as Exchange Traded Funds (ETFs), commodities, shares and bonds, as well as novel assets native to the blockchain.
When Dusk Network launches, it will be part of the first regulated security token exchange that combines the traditional financial industry with the blockchain ecosystem. Paolo Ardoino, CTO at Bitfinex, has followed the venture closely since the very beginning. “When launched, Dusk Network will be among the compliant blockchain platforms for securities,” he said. “Dusk Network will bring the benefits of tokenization to the regulated market.”
The collaboration is timed perfectly with the latest sector trend: DeFi, or Decentralized Finance. The DeFi movement advocates the use of technology such as blockchain to transform the financial sector into a fair and affordable place for all kinds of businesses and investors. The know-how and user base of Bitfinex and the compliance and technology of Dusk Network, are closely aligned with the DeFi philosophy.
By partnering with established financial institutions, Dusk Network is solidifying Amsterdam’s position as one of the world’s most important financial hubs. Jelle Pol, Business Director at Dusk Network, said: “With iFinex Inc.’s involvement, we add the experience and user base of one of the largest successful entities in the blockchain industry.”
