The partnership will promote the tokenization of collateralized digital assets, starting with commercial loans for small-medium enterprises (SMEs) where there are a $1.2 trillion funding gap and innovative real estate investments.
BANKEX, a New York-based fintech company developing a tokenization ecosystem, has partnered with Fusion Foundation, a non-profit open source infrastructure for decentralized global finance, to bring a new set of collateralized digital assets to market.
Operating a blockchain platform that supports the digitization of assets, their tokenization, securitization and custody, BANKEX has chosen Fusion in order to ease the creation and control of digital assets between public and private blockchains and off-chain financial systems. Fusion’s system, Distributed Control Rights Management (DCRM), allows users to do just that without surrendering private keys, making multi-token digital asset management simple and secure.
Dejun Qian, CEO and Founder of Fusion Foundation, commented:
“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.”
Both borrowers and lenders will be able to participate in exclusive financing opportunities such as underserved asset originators’ portfolio of loans. BANKEX and Fusion are in active discussions with several business owners interested in digitizing their assets, including mezzanine real estate and merchant loans.
Igor Khmel, Founder and CEO at BANKEX, said:
“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.”
National Settlement Depository (NSD), Russia’s central securities depository, organized a panel discussion focused on the infrastructure of the crypto assets, with high-profile speakers including Walter Verbeke, Global Head of the Business Model and Innovation, Euroclear SA/NV; Joseph Lubin, co-founder of Etherium and CEO of ConsenSys, and Igor Khmel, founder and CEO of BANKEX.
There, Khmel described the problem: “Today, the crypto market and crypto exchanges lack funds from major institutional investors. These investors fear risks associated with crypto assets transactions. The parties lack the capacity and expertise of depositories which do not yet work with crypto exchanges.”