HomeFundingAmsterdam-based Dusk Network secures €835K to launch its privacy blockchain for financial...

Amsterdam-based Dusk Network secures €835K to launch its privacy blockchain for financial markets

Dutch fintech scale-up Dusk Network has secured an investment of over €835K from iFinex Inc. The collaboration paves the way to creating a regulated Security Token exchange. 

Founded in 2018, Dusk Network’s mission is to enable any size enterprise to collaborate at scale, meet compliance requirements and ensure that personal and transaction data remains confidential. Companies will use the Dusk Network blockchain to issue tokens, trade and collaborate via smart contracts. 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.  

This new collaboration is timed well with the latest sector trend: DeFi, or Decentralized Finance. The DeFi movement advocates the use of technology such as blockchain to transform the financial sector into a fair and affordable place for all kinds of businesses and investors. The know-how and user base of Bitfinex, the digital asset exchange owned by iFinex Inc., and the compliance and technology of Dusk Network, are closely aligned with the DeFi philosophy.

Thanks to this new partnership, the startup can count on the expertise and network of iFinex to boost its launch and further development. Jelle Pol, Business Director at Dusk Network, commented: “With iFinex’s involvement, we add the experience and user base of one of the largest successful entities in the blockchain industry.”

Through the digitization of securities, the exchange project is designed to bring liquidity and transferability to assets. It will allow wider, qualified investor audiences to partake in previously inaccessible opportunities and bring wholly new assets to market. The profile of the assets that can be listed include products such as Exchange Traded Funds (ETFs), commodities, shares and bonds, as well as novel assets native to the blockchain.

Dusk Network began two years ago when tech experts Emanuele Francioni and Fulvio Venturelli joined forces with business experts Jelle Pol, Pascal Putman and Mels Dees to create the Dusk Network privacy infrastructure. Soon after, the team quickly expanded and landed €7.4 million, led by Blockwall, Maven 11, Olymp Capital, Wentworth Hall Family Office, and more.

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Charlotte Tucker
Charlotte Tucker
Charlotte is the previous Editor at EU-Startups.com. She spends her time scouting the next big story, managing our contributor team, and getting excited about social impact ventures. She has previously worked as a Communications Consultant for number of European Commission funded startup projects.

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