The ownership of these tokenised assets are transparent for all to see, without susceptibility to fraud, hack or tampering, according to Digix
Digix, an asset tokenisation platform built on Ethereum, has raised US$1.25 million in seed funding, led by Global Brain (GB). Fenbushi Capital, a blockchain-focused VC fund in Asia, also joined the round.
Digix, owned by Singapore-based DigixGlobal, will use the capital raised from this round to hire developers and business managers, scale operations and expand the company.
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“Global Brain and Fenbushi Capital are well versed with the new token economy and will work with us to ensure the success of our asset tokenisation platform and the decentralised governance system we strive for with DigixDAO,” Kai C. Chng, CEO and Co-founder of Digix, said.
Founded in 2014, Digix is a next-generation digital asset tokenisation platform. It turns physical assets (say gold) into tokens, and make them fungible online through the Ethereum protocol. The ownership of these tokenised assets are transparent for all to see, without susceptibility to fraud, hack or tampering, according to Co-founder and COO Shaun Djie. It allows ownership of assets — otherwise difficult through financial institution bureaucracy — possible, in a fuss-free manner and representing them in your Ethereum wallet.
According to the startup, Digix was the first to send a live transaction on the Ethereum genesis block, and was also the first to deploy a smart contract on Ethereum.
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Yasuhiko Yurimoto, Founder and CEO of GB, said: “Digix’s technology has tremendous value in this newly- born token economy all over the world. Their technology and DGX as gold tokenisation will bring this entire ecosystem into the next step.”
GB is one of the largest VC firms from Japan with US$500 million asset under management across the US, Asia Pacific, Europe and Israel. GB invests into high technology sectors such as AI, robotics, aerospace and blockchain, including recent investments of Coins.ph and Bluzelle.
In September this year, the VC firm inaugurated Global Bain Blockchain Lab (GBBL), which aims to contribute to the blockchain ecosystem, as well as foster utilisation of blockchain technology across industries and countries. The lab’s focuses areas include building of a community-driven blockchain ecosystem, connecting projects with the relevant human capital and contributing to the community’s growth through research and knowledge sharing.
Founded in 2015 by Dr. Feng Xiao (Vice Chairman of Wanxiang Holdings), Vitalik Buterin (Founder of Ethereum), and Bo Shen (Co-founder of BitShares), Fenbushi Capital has so far supported over 40 teams around the world using blockchain to reshape myriad industries, such as finance, healthcare, supply chain, and consumer goods.
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