2020-2-28 21:43 |
The SDF (Stellar Development Foundation) has recently announced a strategic deal and investment of $715,000 worth of XLM in the DSTOQ Group AG, a stock exchange and FinTech company based in Liechtenstein.
DSTOQ allows users to ‘micro invest’ in stocks, bonds and ETFs without borders. The platform will use Stellar’s network to build an interface that will enable users easy access to security tokens as well as traditional stocks like Tesla, bonds or commodities using cryptocurrencies but also fiat.
“We’re extremely proud & excited to announce the closing of a $715K Strategic Investment from Stellar Development Foundation, which is the first investment from their enterprise fund!
This marks a massive step for us towards getting our product into the hands of those that need it.” – Stated the official announcement from DSTOQ.
The idea is to tokenize blue-chip stocks (Big companies with an excellent reputation) and make them available to any investor anywhere. According to DSTOQ, the consensus mechanism used by Stellar makes its blockchain extremely secure against 51% attacks.
DSTOQ is planning to use the new funds to expand its technology into the South African and Vietnamese markets.
“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.” – Said Craig Mc Gregor, CEO of DSTOQ.
This is in fact, the first investment made by the SDF enterprise fund which was created in September of last year. The Foundation which was founded in 2014 to support the growth of Stellar, has been quite active about other matters. The foundation supports the technical and business communities around XLM and it’s an important member when it comes to regulations or institutions.
Just last November, SDF announced a burn of 55 billion XLM tokens, which was half of the total supply. The market reacted quite well with a 33% price increase for XLM, unfortunately, it didn’t last and the digital asset eventually lost all gains a few weeks later.
Will this new investment bolster the growth of XLM in the near future?
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