BANKEX, Fusion Foundation to Provide Digital Funding Platform for SMEs

BANKEX, Fusion Foundation to Provide Digital Funding Platform for SMEs
08.05.2019 07:18 am

BANKEX, Fusion Foundation to Provide Digital Funding Platform for SMEs

Blockchain , Fund Management , Investment Management , Crowdfunding

Fusion Foundation, the non-profit open source organization building the next generation infrastructure for decentralized global finance, and BANKEX, a fintech company developing a tokenization ecosystem, have entered into an agreement to bring a new set of collateralized digital assets to market, initially targeting small to medium-sized enterprises (SME) and commercial lenders.  

New York-based BANKEX operates a blockchain platform that supports the digitization of assets, their tokenization, securitization and custody.  BANKEX selected Fusion to ease the creation and control of digital assets between public and private blockchains and off-chain financial systems. Furthermore, Fusion’s groundbreaking Distributed Control Rights Management (DCRM) system enables users to create, configure and control assets across blockchains without surrendering private keys, making multi-token digital asset management simple and secure.

“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,” said Dejun Qian, CEO and Founder of Fusion Foundation. “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.”

Fusion and BANKEX will work together to tokenize a variety of collateralized digital assets, starting with commercial loans for small-medium enterprises (SMEs) where there is a $1.2 trillion funding gap[1], and innovative real estate investments, such as mezzanine loans. With newfound transparency and efficiency available through blockchain platforms, both borrowers and lenders will be able to participate in exclusive financing opportunities. In particular, Fusion and BANKEX are collaborating with underserved asset originators to monetize their portfolio of loans, transforming them into a newly investable and accessible digital asset class.  

“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,” said Igor Kmel, BANKEX founder and CEO.

BANKEX and Fusion are in active discussions with several business owners interested in digitizing their assets, including mezzanine real estate and merchant loans.

Related News

The blockchain platform Factorin has transformed the trade finance market in Russia in only a year since its launch

In only a year, a young technology company was able to change the trade finance market in Russia. The distributed platform automates the interaction of the customers’,... Read more »

VALK offers BT Radianz Cloud Community access to Corda blockchain platform

VALK, an innovative technology provider offering a software that digitizes the management, investment and trading of unlisted assets, today announced that it... Read more »

Finboot partners with LCAM to transform dispute resolution using blockchain legaltech

Finboot, the company behind the enterprise-grade blockchain middleware MARCO... Read more »

Exactpro awarded Innovation accolade for Blockchain project with R3

Exactpro, a leading software testing provider for financial market infrastructures, is pleased to announce the receipt of QA Financial’s “Automation Technology Project of the... Read more »

Finboot’s MARCO recognised by World Economic Forum as an example of successful blockchain implementation in supply chains

Finboot, the company behind the production-ready blockchain middleware MARCO, is pleased to announce that it has been... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel