Stellar Development Foundation has invested in fintech company DSTOQ Group AG. through its enterprise fund.
The investments made by Stellar Development Foundation (SDF) is valued at $715,000. This is the first-ever investment carried out by its enterprise funds. According to an official blog post by Stellar, the Liechtenstein fintech firm DSTOQ is designed to make investing accessible, seamless and affordable.
It achieved this using digital interface on the Stellar decentralised technology network. Known for its open-source and decentralised blockchain, Stellar is well-equipped to support DSTOQ.
Using its interface, DSTOQ users will now have unrestricted access to blue-chip shares like Amazon or Tesla. Indices, bonds, and commodities via fiat or digital currency will also be available.
It will first be launched in Vietnam and then closely followed by a launch in South Africa, alongside other African, South America and Asian Markets. All of which are mainly developing economies. To enjoy this access, DSTOQ users need only have a smartphone
DSTOQ’s first market will be Vietnam, followed by South Africa and other African, South American, and Asian developing countries. DSTOQ users require only a smartphone to be able to easily follow global financial trends. Stellar’s blockchain not only makes this process valuable, but it also makes it more accessible.
Why Stellar blockchain?
The decision to make use of blockchain tech by DSTOQ was due to some of its distinctive attributes. Most of which are quite beneficial to its product and business outline.
Furthermore, Stellar was chosen for its ability to efficiently tokenize assets. Making it possible for interested persons to invest just a percentage of what it would normally cost to invest. According to DSTOQ, employing the Stellar blockchain turned out to be the turning point for the company.
Speaking on the investment, Denelle Dixon pointed out one of SDF’s main goals is to open the world to more economic possibilities. Also adding that DSTOQ focus on cross-border investing resonates deeply with SDF’s mission. Adding that, “Together, we hope to improve the lives of millions of people while simultaneously creating exciting new business opportunities.”
For the uninformed, Denelle Dixon is the CEO and Executive Director of SDF (Stellar Development Foundation).
CEO of DSTOQ, Craig McGregor said, revealed that the entire firm was thankful for SDF trust and investment. Adding that the two firms will work together to improve financial inclusion in countries especially those with a large percentage of unbanked.
Also adding that the two firms look “forward to changing that with this exciting technology.”
Co-founder of Stellar JedMcCaleb, also disclosed that SDF is delighted to witness DSTOQ “take the use cases for our technology to the next level.”
More on Stellar Development Foundation (SDF)
Founded in 2014 SDF is a non-profit arm of Stellar, supporting the growth of the Stellar blockchain. Protecting Stellar codebase as well as lending its support to businesses on the blockchain. It looks to harness global economic potential throughout blockchain technology. And also a member of the Mousebelt Blockchain Alliance.