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Ethereum-powered startup Digix raises $1.25M from Asian VCs

Digix, a Singapore-based digital assets company, has raised $1.25 million in a seed funding round, IBTimes UK reported.

The round was led by Japanese VC Global Brain and also saw contribution from blockchain-focused Fenbushi Capital.

"It is with pleasure that I welcome the two VCs on board. They 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, the CEO and Co-Founder of Digix, said. "I am very confident that they will guide us properly towards scaling our operations with their years of experience in taking care of technology companies, while simultaneously introducing the benefits of our tokens and protocol to their network of partners across the globe."

In a blog post, Digix said that the involvement of the VC will give it opportunities to showcase its product to their traditional and blockchain portfolio of companies.

The startup is working to release a crypto gold-backed token on the Ethereum blockchain. This would help provide a stable coin for cryptocurrency users and also expand financial inclusion to the unbanked.

"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,” Yasuhiko Yurimoto, Founder and CEO of GB said.

Ethereum-powered startup Digix raises $1.25M from Asian VCs

Digix, a Singapore-based digital assets company, has raised $1.25 million in a seed funding round, IBTimes UK reported.

The round was led by Japanese VC Global Brain and also saw contribution from blockchain-focused Fenbushi Capital.

"It is with pleasure that I welcome the two VCs on board. They 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, the CEO and Co-Founder of Digix, said. "I am very confident that they will guide us properly towards scaling our operations with their years of experience in taking care of technology companies, while simultaneously introducing the benefits of our tokens and protocol to their network of partners across the globe."

In a blog post, Digix said that the involvement of the VC will give it opportunities to showcase its product to their traditional and blockchain portfolio of companies.

The startup is working to release a crypto gold-backed token on the Ethereum blockchain. This would help provide a stable coin for cryptocurrency users and also expand financial inclusion to the unbanked.

"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,” Yasuhiko Yurimoto, Founder and CEO of GB said.

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1.807 Blb

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1.856 Blb

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159.228 Bushels M

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159.637 Bushels M

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163.572 Bushels M

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-1541 %

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