Luxembourg-based digital asset investment platform VNX Exchange has successfully completed Europe's first venture capital investment deal using blockchain technology. The deal includes the issue of €1.1 mln in asset-backed tokens associated with an investment in Streami Inc., an innovative blockchain company in South Korea.
Issued on Ethereum, ERC-20 asset backed tokens represent claims on the future cash flow from the investment. As noted by Streami co-founder and CEO Junhaeng Lee, VNX is a great way for South Korean businesses to get the attention of investors, especially in the face of pandemic, lockdown and travel bans. With the money raised, Streami plans to strengthen its product and marketing to become the leading provider of financial market infrastructure in South Korea.
VNX facilitates the creation, deployment, and maintenance of tokens backed by traditional assets on public blockchains. Asset tokenization creates unique opportunities for fractional ownership and cross-border investment. The platform offers integrated digital KYC/AML functionality allowing remote onboarding of investors in minutes and supports a variety of payment methods including cryptocurrencies.