NEW YORK, May 07, 2019 (GLOBE NEWSWIRE) -- 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 gap1, 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.
About Fusion Foundation
Fusion Foundation is a non-profit organization building the next generation infrastructure for decentralized global finance. By providing innovative companies and developers with the open source technology they need to build peer-to-peer time and value-based applications, the world will enjoy financial transactions that are more accessible, efficient and transparent than previously possible. Fusion’s seasoned team of industry veterans led by Founder and CEO DJ Qian, a blockchain pioneer who previously launched two top 20 global blockchain projects (VeChain and QTUM), is working to collaborate with financial institutions, cryptocurrency companies, businesses, peer-to-peer lenders, third-party app developers, academia, and the broader blockchain community. By providing the foundation that enables different cryptocurrency tokens, digital assets, off-chain values, and data-sources to be created and exchanged between the Fusion blockchain, other blockchains and financial systems, Fusion is moving ever closer to a globally accessible system for the free exchange of values. Visit www.fusion.org to learn more about Fusion and its partnership program.
BANKEX is a global financial engineering company building decentralized capital markets infrastructure utilizing both public and private blockchains. This includes digitization of assets, their tokenization, securitization and enabling consequent marketing to private and public investors. BANKEX team is continuously developing a decentralized securitization framework that includes Proof-of-Asset (PoA) Protocol, industry-specific STO Frameworks, Asset Passport, Asset scan, Asset cash flow record system, Dividends Hub, Custody solution (Amazon AWS cloud based). On a mission to provide liquidity and capital market infrastructure to underbanked asset owners BANKEX connects security token issuers and crowdfunding platforms, brokers and institutional investors into a borderless financial market ecosystem, partnering leading blockchain companies, banks, security companies, exchanges, audit companies, ranking agencies and governments. For more, visit www.bankex.com.
MEDIA CONTACTS FOR FUSION
(212) 320-8981, ext. 708
MEDIA CONTACTS FOR BANKEX
(917) 310 3396
Monica VanHorn Forefront Communications (212)320-8981, ext. 708 email@example.com