Stellar Development Foundation (SDF) closes 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 their 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.”
DSTOQ made the strategic decision to use blockchain technology in the development of its architecture due to some unique properties that benefit their business model. For example, Stellar enables the tokenization 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. The use of the Stellar blockchain proved to be a game-changing decision for the company, as they mention in their blog.
Jed McCaleb, co-founder and Chief Architect of Stellar, said, “DSTOQ is making markets accessible to new geographies, connecting the world’s global infrastructure in an exciting and innovative way. We are really excited to see companies like DSTOQ take the use cases for our technology to the next level.”
DSTOQ has focused on the building blocks of an entirely new financial system, developing the technology and partnerships required for its success. In the months to come, DSTOQ will share more insights on these foundational steps, including a new partnership with an innovative European bank with strong ties to Asia.