iFinex, Parent Company of Bitfinex, Invests in Security Token Exchange Dusk Network

iFinex has invested approximately $1 million in Amsterdam-based Fintech Dusk Network, according to a note from the company. iFinex is the parent company of Bitfinex – a crypto exchange. Dusk Network is creating a regulated security token exchange and is self-described as a privacy blockchain for financial applications. Companies may issue tokens, trade, and collaborate via smart contracts. Dusk Network utilizes a cocktail of technology that is explained here.

In mid-2019, Dusk tokens were listed on Bitfinex following a token sale in an IEO. A report from earlier this year claimed that Dusk plans on tokenizing assets of thousands of SMEs in the Benelux region.

According to iFinex, when Dusk Network launches, it will be part of the first regulated security token exchange that combines the traditional financial industry with the blockchain ecosystem.

Paolo Ardoino, CTO at Bitfinex, believes that Dusk Network will be among the first compliant blockchain platforms for securities bringing the benefits of tokenization to the regulated market.

By partnering with established financial institutions,  Dusk Network believes it can solidify Amsterdam’s position as one of the world’s most important financial hubs. Dusk Network says it will digitize securities while bringing liquidity and improving the transferability to these digital assets. Dusk Network plans on listing securities like ETFs (Exchange Traded Funds), shares in stock, commodities and bonds as well as esoteric securities.

Jelle Pol, Business Director at Dusk Network, stated:

“With iFinex Inc.’s involvement, we add the experience and user base of one of the largest successful entities in the blockchain industry.“

Founded by Pol, Emanuele Francioni, Mels Dees, Pascal Putman, and Fulvio Venturelli, the company has previously raised more than €7 million.

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