- Stellar Invests in DSTOQ exchange
- DSTOQ offers its users a broad range of assets
- SDF has set $550 million for its enterprise fund
Stellar Lumens News Today – according to reports, the Stellar Development Foundation has revealed a fresh investment into a certain DeFi exchange. SDF announced that it has completed a $715,000 investment in DeFi stock exchange DSTOQ.
DSTOQ is a Stellar-based FinTech project designed to allow users to make investments in traditional stocks using both fiat and crypto. The Stellar Development Foundation revealed the report via its blog. It also included a video from the entity’s CEO Denelle Dixon.
DSTOQ Becomes a Part of SDF
Dixon said DSTOQ exchange has been building on the Stellar network since 2018, however, this news has now made the relationship between the two entities official. SDF said:
“We are glad that the DSTOQ exchange is now a part of our ecosystem. They have always been a part of Stellar before, but not formally until now thanks to the enterprise fund.”
DSTOQ is an exchange designed to provide its users with a broad range of assets to invest in. Every user on DSTOQ’s platform will have the option to buy stocks, bonds, ETF’s, indices, commodities, and more assets with either fiat or crypto. The stock exchange also allows users to invest in blue-chip stocks for high-profile entities like Tesla and Amazon. The project aims to provide trading and investment services around the globe.
Vietnam will be DSTOQ’s first market. The firm will expand to other developing countries later. Developing countries in South America, Africa, and Asia. This move is in line with the mission behind Stellar’s statement. Stellar has persistently preached about offering equitable access to the worldwide financial market. DSTOQ also provides its users with a smartphone-backed interface to reduces the number of barriers they may have to access the solution.
The Stellar Development Fund
In December of last year, Stellar provided its funding mandate for this decade. The mandate forecasted funding like the investment in DSTOQ. In line with the mandate Stellar has budgeted 8 billion XLM (the equivalent of $550 million) as its enterprise fund. The enterprise fund is only a fraction of the 30 billion XLM mandate that Stellar already issued. This mandate will distribute about $2 billion over the next decade. It also comes with changes to Stellar’s funding model.
Stellar’s inflation rewards model failed to distribute adequate funds to developers. The new model will effectively distribute funds. Though SDF hasn’t announced any other new investments yet, this recent development is a reminder that Stellar will make similar announcements soon. Considering Dixon’s statements:
“We can look forward to more announcements like this.”