Stellar Development Foundation Invests $715,000 Worth Of Lumens Tokens In DSTOQ
Stellar Development Foundation Invests $715,000 Worth Of Lumens Tokens In DSTOQ
February 28, 2020
Stellar Development Foundation Invests $715,000 Worth Of Lumens Tokens In DSTOQ
Stellar Development Foundation Invests $715,000 Worth Of Lumens Tokens In DSTOQ
February 28, 2020

The Stellar Development Foundation (SDF) announced that it has invested $715,000 worth of lumens (XLM) tokens in DSTOQ, a security token platform that provides traders with access to global markets from their smartphones, as the investment arm of Stellar, the cryptocurrency project, has made its first enterprise bid on a security token platform that provides emerging economies with access to traditional assets and cryptocurrencies.

On February 26, it has been reported that Denelle Dixon, the CEO and executive director of the foundation, said DSTOQ’s goals clearly aligned with Stellar’s aim to make financial services more accessible.

Dixon said:

“It deeply resonates with our mission, which is creating equitable access to the global financial system.” 

However, this is the first investment SDF has made from its enterprise fund, which was created in September to support projects that contribute to the broader Stellar ecosystem. DSTOQ, which is domiciled in Liechtenstein, already leverages the Stellar protocol to create security tokens that users can buy and sell peer-to-peer.

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In a statement, Craig Mc Gregor, the CEO, and Co-founder of DSTOQ described the SDF investment as a “vote of confidence” for its vision to use blockchain technology to develop new financial products as well as to improve accessibility into global markets. 

Built on the blockchain, DSTOQ says that it can tokenize blue-chip stocks, like Apple or Google shares, and make them available to investors irrespective of where they are in the world.

Image: achainofblocks.com

It has been analyzed that the company opted to use Stellar in October 2018 by saying that its consensus algorithm made the protocol secure against 51 percent attacks.

Thus, DSTOQ says that it plans to use the SDF investment to develop new technology and help fund the platform’s expansion into the Vietnamese and South African markets.

Source: coindesk.com | stellar.org


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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