By ET Bureau - February 27, 2020 2 Mins Read
Stellar Development Foundation (SDF) announces the closing of a strategic investment in DSTOQ Group AG. The investment of $715K, paid in lumens, is the first made by SDF through their new Enterprise Fund.
DSTOQ, a Liechtenstein-based FinTech company, helps make investing accessible and affordable for people in emerging markets, through a borderless digital interface for security tokens built on the Stellar network, a global, decentralized open-source blockchain. Through the DSTOQ interface, users have easier access to blue-chip shares, such as Tesla or Amazon, as well as bonds, indices, and commodities using fiat or cryptocurrencies.
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 access global financial markets, which thanks to Stellar’s infrastructure layer, makes the entire process not only more accessible but also more efficient.
About the investment, Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation (SDF) said: “At SDF, we seek to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. DSTOQ’s sharp focus on cross-border investing and its unique approach to helping people in emerging markets to gain access to investment opportunities abroad speaks directly to our mission at SDF. Together, we hope to improve the lives of millions of people while simultaneously creating exciting new business opportunities.”
Craig Mc Gregor, CEO, and co-founder of DSTOQ said, “We are grateful for SDF’s vote of confidence and continued support towards our shared vision of building and improving the global financial system. Together, DSTOQ and SDF aim to improve financial inclusion in markets that desperately need better access to global products. For too long these markets have been ignored – we look forward to changing that with this exciting technology.”
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