Stellar Development Foundation (SDF) has made public a strategic investment stake it has secured in DSTOQ. On Wednesday, the Foundation in a statement indicated that the investment of $715,000 was paid in Lumens.
It is the first of such an investment made through the newly created Enterprise Fund by the SDF. DSTOQ is a Liechtenstein-based FinTech firm making financing available and affordable to people in emerging markets.
Their strategy is via a borderless digital interface with security tokens developed on the decentralised open-source blockchain of the Stellar network. It provides users with effortless access to blue-chip shares like Tesla or Amazon, including bonds, tokens and commodities utilising fiat or cryptocurrencies.
The primary market for DSTOQ is Vietnam; then South Africa, followed by other African, South American, and Asian developing nations. With a smartphone, users can access global financial markets leveraging Stellar’s foundation layer to make the whole process more convenient and efficient.
Commenting about the SDF’s investment, Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation (SDF), remarked that, the SDF seeks to unhitch the world’s economic potential by making money more fluid, markets more open, and people more empowered. Dixon asserted.
“DSTOQ’s sharp focus on cross-border investing and their unique approach to helping people in emerging markets to gain access to investment opportunities abroad speak directly to our mission at SDF.Together, we hope to improve the lives of millions of people while simultaneously creating exciting new business opportunities.”
“We are grateful for SDF’s vote of confidence and continued support towards our shared vision of building and improving the global financial system” Craig McGregor, CEO and co-founder of DSTOQ, stated. “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.”
According to the press statement, DSTOQ made the crucial decision to use Blockchain technology in the development of its architecture due to some novel features that benefit their business model. It gave an example of how Stellar enables the tokenisation of assets, such as shares of Apple, in a far more efficient manner that allows users in emerging markets to invest at a fraction of what it would otherwise cost.
Additionally, the application of the Stellar blockchain established a game-changing decision for DSTOQ. Jed McCaleb, co-founder and Chief Architect of Stellar, maintained that DSTOQ is advancing markets accessibility to new geographies, connecting the world’s global infrastructure exciting and innovatively.
“We are really excited to see companies like DSTOQ take the use cases for our technology to the next level,” McCaleb remarked. He pointed out that DSTOQ has concentrated on the building blocks of a distinct financial system, strengthening the technology and partnerships required for its progress.
The statement added that in the coming months, DSTOQ would share more insights into their foundational steps. Among them, is a new partnership with an innovative European bank with strong ties to Asia.