DEXTF Raises Funding To Launch On-Chain Asset Management Protocol

by StartupWorld Staff         

DEXTF Protocol, a Singaporian startup for decentralized trade funds, has raised $460,000 seed funding. The round led by cryptocurrencies and blockchain companies investment firm LuneX Ventures and Singapore Government-owned venture capital SGInnovate.

Founded in 2017, DEXTF Protocol started developing the protocol in March 2019, and this is the first investment it secures. DEXTF is aimed at using “blockchain technology to democratize asset management and unlock the power of efficient capital allocation.”

The FinTech combines three potential technology to address the existing challenges in the sector: blockchain, state channels, and arbitrage mechanism. By transforming traditional asset management into democratic asset management over IP, it untangles the complexities and incredibly simplifies the process. 

DEXTF Raises Funding To Launch On-Chain Asset Management Protocol

In recent times, we have witnessed the change of blockchain platforms from a centralized structure to a decentralized structure. Many major blockchain companies are introducing decentralized exchange. DEXTF using the platform quite innovatively with the integration of the Arbitrage Mechanism. The combination of technologies ensures the next-level security to digital assets. 

"With DEXTF, we are creating a new asset management paradigm. It helps traditional asset managers dramatically lower the costs, and tap into new investment asset classes.  Also, significantly lowers barriers to entry, and democratizes the allocation of resources to enable a new generation of digital asset managers," says Mario Aquino, co-founder, and president of DEXTF. 

The investment fund will be spent on the launching of its product and further developments of the technology. The team is planning to introduce the beta version in January 2020 and will roll out the product in the market after two months. 

"Leveraging the blockchain technology, the DEXTF protocol seeks to address this gap and democratize digital asset management in a secure and scalable way. We are thrilled to be a co-investor in DEXTF's seed funding round to help scale their platform globally," says Heng Soon Pang, head of venture building at SGInnovate.


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