Dusk Network, a Dutch-based startup set to launch a regulated security token exchange, has received $1 million in funding from Bitfinex’s parent, iFinex. The exchange, whose operational niche is tokenized assets including exchange-traded funds (ETFs), commodities, and equities are set for debut in 2021, according to sources who informed TheBlock.

The Dusk announcement on September 1 noted that this milestone would see the firm expand its horizon in the crypto space, especially within the burgeoning European market. Consequently, its prospectus security token exchange by Dusk will operate under the region’s Markets in Financial Instruments Directive (MiFID II). This EU regulatory framework was designed to protect the interest of investors as well as increase transparency.

Notably, the recent $1 million funding towards Dusk’s initiative is not the first significant financing achievement the Amsterdam-domiciled firm has achieved. Back in 2018, Dusk Network raised roughly $8.85 million in private sales. Nonetheless, the company’s business lead, Jelle Pol, has clarified that Dusk Network’s security token exchange will be run as a separate unit.

This development comes as excitement around regulated security tokens builds up for institutional investors. With the Netherlands positioning itself as a ‘crypto valley’, the country’s financial market regulations on tokenized assets are among the most advanced in the world. In fact, the country’s central bank has since offered to lead the European Union in CBDC development and integration.

The post Dutch-based Security Token Exchange Dusk Network Raises M From Bitfinex Parent, iFinex first appeared on BitcoinExchangeGuide.

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