BANKEX and Fusion Foundation
With an eye on small-to-medium sized enterprises (SMEs), BANKEX and Fusion Foundation have partnered. This pairing has announced their intent to bring ‘collateralized digital assets to market’.
While BANKEX provides issuers with a platform facilitating the tokenization and custody of assets, Fusion Foundation is able to act as a guiding hand through this process. Thereby, simplifying tokenization, and making the idea less daunting to potential clients.
Their initial efforts are expected to be focused on tokenizing commercial loans for SMEs. This means that SMEs looking to raise money, can do so through a loan which is funded by investors over the blockchain. Investors, acting as lenders in this case, receive security tokens, representing their share of the loan – as well as their entitled share of the interest garnered throughout the life of the loan.
This process opens up lower risk opportunities for investors to make money, while providing SMEs with financial opportunities that they would otherwise be hard pressed to find.
The CEOs of both BANKEX and Fusion Foundation took the time to comment on this partnership announcement. The following is what each had to say on the matter.
Igor Khmel, CEO of BANKEX, stated,
“Combining BANKEX’s asset digitization and securitization platform with Fusion’s unique interoperability protocol enables us to jump-start the deal flow of millions of transactions in SME commercial loans and real estate mezzanine loans as early as this year, providing a much needed new financing option and potential source of capital to thousands of small business owners.”
Dejun Qian, CEO of Fusion Foundation, stated,
“We are excited about combining forces with BANKEX as they are a like-minded technology leader and have already begun digitizing and tokenizing assets using their innovative platform…Combining their platform with our powerful interoperability capabilities moves us both closer to our goals of ushering in a new era of global finance and banking.”
BANKEX is a New York based company, which was founded in 2015. Through use of blockchain based solutions, BANKEX is expected to soon launch a platform for trading digital securities. These moves are made possible through licensure received through the Maltese VFA.
Company operations are currently overseen by CEO, Igor Khmel.
Fusion Foundation is a non-profit organization based in Singapore. They are working to usher in the next era of finance, through the implementation of blockchain technologies. With a goal of ‘connecting the world’s financial systems’, Fusion Foundation has a mountain ahead of them to climb – not an insurmountable mountain, but a mountain nonetheless.
In Other News
Each of these companies have caught our eye in the past few months. Check out the articles below to learn a bit more about what these two companies have been up to as of late.
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