iFinex Inc. announced today that it has invested over $1 million in the Dusk Network project to create an exchange for security tokens.
The company, based in Amsterdam, is a perfect fit for the DeFi boom, hoping to bring the financial services of the traditional industry to the blockchain. And in fact, an exchange for security tokens allows companies to sell shares in a decentralized way, thanks to the use of blockchain technology.
By digitizing securities, Dusk will bring liquidity and ease of transfer to this type of asset via its exchange, giving qualified investors the opportunity to invest in companies quickly and easily.
Paolo Ardoino, CTO of Bitfinex and Tether, said:
“When launched, Dusk Network will be among the compliant blockchain platforms for securities. Dusk Network will bring the benefits of tokenization to the regulated market.”
Dusk is a decentralized platform whose objective is to ensure privacy and transparency of transactions and value transfer in compliance with applicable laws and regulations. Dusk also enables the creation of zero-knowledge dApps.
Jelle Pol, Business Director of Dusk Network, explained:
“With iFinex Inc.’s involvement, we add the experience and user base of one of the largest successful entities in the blockchain industry”.
An IEO to fund Dusk’s STOs
In November 2018, Dusk Network launched its token sale on Bitfinex, raising $8.1 million, at a time when the “bubble” had just burst and crypto prices were falling, so this is definitely a plus for the project.
Moreover, Dusk was among the first to use the exchange’s IEO platform. Later, the Dusk’s token (DUSK) was also listed on the Binance DEX in July 2019.
iFinex is the parent company of Bitfinex, in other words, the company that owns the exchange and all its services.