Digix, the very first asset tokenization company built on Ethereum, has announced raising $1.25 million USD in its seed round. The round was led by Global Brain, one of the largest and long established venture capital out of Japan. The round was also joined by Fenbushi Capital, Asia’s first and most active blockchain-focused venture capital fund.
Digix is releasing a crypto gold backed token on the Ethereum blockchain in a transparent and publicly auditable manner, aiming to help the unbanked with financial inclusion as well as providing a stable coin for cryptocurrency users and applications.
Digix was the first to send a live transaction on the Ethereum genesis block and was also the first to deploy a smart contract on Ethereum (verified with a signed message from “digix” on the blockchain). They have been in the community since the inception of Ethereum, building tools, and developmental kits while concurrently developing their own product.
Global Brain (GB) is one of the largest venture capital firm from Japan with $500m asset under management across the U.S., Asia Pacific, Europe, and Israel. GB invests in high technology sectors such as AI, Robotics, Aerospace and Blockchain including recent investments of Coins.ph and Bluzelle. GB Blockchain Lab’s (GBBL) inauguration was also announced in September 2017 to contribute to the blockchain ecosystem, as well as foster utilization of blockchain technology across industries and countries. Given its deep roots in venture capital, GBBL focuses on areas include building a community-driven blockchain ecosystem, connecting projects with the relevant human capital and contributing to the community’s growth through research and knowledge sharing.
Yasuhiko Yurimoto, Founder, and CEO of GB said:
“Digix’s technology has tremendous value in this newly born token economy all over the world. Their technology and DGX as gold tokenization will bring this entire ecosystem to the next step.”
Fenbushi Capital is one of the first and most active blockchain-focused venture capital firms in the world, founded in 2015 by Dr. Feng Xiao (Vice Chairman of Wanxiang Holdings), Vitalik Buterin (Founder of Ethereum), and Bo Shen (co-founder of BitShares), with a mission to build world-class companies leveraging blockchain technology to change the world. To date, Fenbushi has supported over 40 amazing teams around the world using blockchain to reshape myriad industries such as finance, healthcare, supply chain, and consumer goods.
Bo Shen, General Partner at Fenbushi Capital, says:
“We are proud to support Digix, one of the earliest and most experienced teams in the blockchain space to explore and build solutions for asset tokenization and decentralized governance.”
Speaking about the investment, Kai C. Chng, the CEO, and Co-Founder of Digix was quoted:
“It is with pleasure that I welcome the 2 VCs on board. They are well versed with the new token economy and will work with us to ensure the success of our asset tokenization platform and the decentralized governance system we strive for with DigixDAO. I am very confident that they will guide us properly towards scaling our operations with their years of experience in taking care of technology companies, while simultaneously introducing the benefits of our tokens and protocol to their network of partners across the globe.”