The Stellar Development Foundation (SDF) has made a strategic investment of $715,000 in DSTOQ, a Stellar-based regulated stock exchange DSTOQ that allows users to invest in traditional stocks with fiat and cryptocurrency.
According to blog post published on Stellar website on February 26, the money was in Stellar Lumens (XLM) and is the first made by SDF through their new Enterprise Fund.
DSTOQ, based in Vaduz, Liechtenstein, a Germen-speaking microstate between Austria and Switzerland, is a regulated stock exchange that allows investors to invest in rea-world assets using cryptocurrencies through a borderless digital interface for security tokens built on the Stellar network, a global, decentralized open source blockchain.
According to the SDF, DSTOQ made the strategic decision to use Stellar blockchain platform because it suits best to its model as Stellar enables the tokenization of asset in far more efficient way than other similar projects. The users of DSTOQ can purchase bonds, indices and commodities using fiat or cryptocurrencies, as well as blue chip shares, such as Tesla or Amazon.
Both the companies have been in relation since 2018, when DSTOQ was founded but the latest announcement makes the relationship official. The aim of investment is to help DSTOQ expand globally. The company will first expand its services to Vietnam, followed by South Africa and other African, South American, and to Asia through a new partnership with an innovative European bank with strong ties to Asia.
CraigMc Gregor, CEO and co-founder of DSTOQ, commented:
“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.”
The Stellar Development Foundation (SDF) is a non-profit organization founded in 2014 to support the development and growth of Stellar network maintaining Stellar’s codebase, technical and business communities around the project, and speaking partner to regulators and institutions.
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.”