Tokenised gold platform Digix has netted $1.25m in a seed round led by Global Brain, and Fenbushi Capital.
Singapore-based Digix is a crypto gold backed platform built on the Ethereum blockchain, which leverages a distributed ledger for transparent and auditable transactions. The company is also launching a token to help unbanked with financial inclusion.
The company was the first to send a transaction through Ethereum’s genesis block, and also the first to deploy a smart contract on the blockchain, according to the company.
Global Brain Yasuhiko Yurimoto founder and CEO 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.”
Earlier in the year Malaysia-based HelloGold raised a Series A funding round, which valued the company at $12m. The company is a Shariah compliant gold digital platform that enables users to buy and sell these assets.
Other investments in the FinTech sector made by Global Brain include its recent participation in the $1.5m Series A round into blockchain database Bluzelle. The firm has also contributed to the $13m Series B of commercial real estate finance data firm CrediFi and the $5m Series A of Coins.ph, which is looking to bring financial inclusion through blockchain.
Fenbushi has also made previous investments in the FinTech space including blockchain-as-a-service Factom, blockchain post-trade startup Juzhen Financials, and accounting solution Libra.
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