Digix, the very first asset tokenisation company built on Ethereum, has raised $1.25m in its seed round, led by Japanese VC Global Brain, and joined by Fenbushi Capital, Asia's first and most active blockchain-focused venture capital fund.
Digix 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, said a statement.
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.
Japan's Global Brain (GB) has some $500m asset under management across the US, Asia Pacific, Europe and Israel. The firm invests into 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.
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 tokenisation will bring this entire ecosystem into the next step."
Takashi Sano, Venture Partner of GB, who also leads GBBL, added: "We are also impressed by Digix team's sincere attitude to the blockchain community, such as running one of the largest Ethereum community in Asia."
Fenbushi Capital was 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, said: "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 decentralised governance."
Speaking about the investment, Kai C. Chng, the CEO and Co-Founder of Digix, said: "It is with pleasure that I welcome the two VCs on board. They are well versed with the new token economy and will work with us to ensure the success of our asset tokenisation platform and the decentralised 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."