Lunex Leads New Funding Round in Singapore-based DEXTF Author: Jimmy Aki Last Updated: 10 November 2019 Decentralized Traded Funds (DEXTF), a Singapore FinTech company, has raised $460,000 in a new, LuneX-Led funding round. According to a November 8 report from finance news source Tech in Asia, LuneX Ventures and SGInnovate led the funding round, with other partners including British hedge fund CDAM and others. Per the news medium, Heng Soon Pang, the venture building head at SGInnovate, revealed that investment in the digital assets market had been an area of particular interest, even though some believe that the current investment infrastructure is inadequate for hedge fund managers. He added that with the DEXTF protocol, blockchain technology could be leveraged to help enhance several traditional industries in Singapore, while also ensuring that digital asset management can be democratized in a safe, scalable manner. He went on to add, “ We are glad to partner with the DEXTF seed funding round. The partnership will help in scaling DEXTF’s platform globally.” New Spin to Asset Management Launched at the 2019 London Summit, DEXTF is a blockchain platform that takes out the need for middlemen in investor-asset manager relations. The platform also makes it easy to assign investment decisions without necessarily causing a turnover of asset ownership. DEXTF is the first product to be coming out of LuneX, a company that was established by Singaporean venture capital firm Golden Gate Ventures in August 2018. At the time, Golden Gate was hoping to draw on its experience with helping several companies to raise money through Initial Coin Offerings (ICOs) to make a more sustainable investment in cryptocurrencies. LuneX was eventually launched as the first crypto fund from a traditional Southeast Asian investor, as Kenrick Drijkoningen, its managing partner, argued that the time was right for the traditional investment and cryptocurrency markets to merge. The firm is also employing blockchain technology in addition to an arbitrage machine that will improve security for transparency, terms, and conditions. Mario Aquino, the President, and Co-founder at Decentralized Traded Funds. Said, “We are in the process of building an asset management paradigm that will aid traditional asset managers to invest in new asset classes and reduce costs. The management paradigm will also significantly democratize the allocation of resources and lower entry barriers, enabling a new generation of digital managers to thrive.” Speaking with news medium TechCrunch, he said, “Despite the fact that public markets are down, the amount of talent that’s moving into this space is exciting. There are young entrepreneurs who are passionate about this space and want to build an ecosystem,” while also adding that the stability on cryptocurrency prices is a good thing. It would seem that Drijkoningen was right. The new funding round was reported to have been oversubscribed, showing that a lot of parties are working on the implementation of blockchain in solving several problems that traditional industries in Singapore have so far been unable to surmount.