Fintech Startup DEXTF Secured $460,000 in LuneX-Led Funding Round

Decentralized Traded Funds (DEXTF) has closed its seed funding round after raising $460,000, The Business Times reported.

The round was led by LuneX Ventures and SGInnovate, along with participants, including London-based hedge fund CDAM and other undisclosed private investors. Notably, LuneX is the blockchain-focused arm of Singapore’s Golden Gate Ventures.

The Singapore-based Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term startup is directly connecting investors and asset managers, eliminating the need for expensive intermediaries. In addition, it also offers a delegation of investment decision services without the need for transferring the ownership of the assets.

The promising services leveraging blockchain technology also created a demand for the company as the funding round was oversubscribed.

“Traditional asset management is an industry experiencing a period of significant change, driven by the rise of ETFs and passive investments, the search for yield and diversification in a low-interest-rate environment, and the increasing cost of legacy infrastructure with multiple intermediary layers,” Mario Aquino, co-founder and president of DEXTF, said.

“With DEXTF we are building a new asset management paradigm. One that not only helps traditional asset managers dramatically lower costs, and tap into new investment asset classes, but also significantly lowers barriers to entry, and democratizes the allocation of resources to enable a new generation of digital asset managers.”

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term in financial technology

The company is also working to combine blockchain technology with the arbitrage mechanism to add another layer of security, providing accountability and transparency.

“Investing in digital assets remains an area of sustained interest, yet many see current investment infrastructure as inadequate for investors and fund managers,” Heng Soon Pang, head of venture building at SGInnovate, added. “Leveraging the blockchain technology, the DEXTF protocol seeks to address this gap and democratize digital asset management in a secure and scalable way. We are excited to be a co-investor in DEXTF's seed funding round, to help scale their platform globally.”