Stellar Development Platform Will Invest In DeFi Stock Exchange

It was announced by the Stellar Development Platform that a $715,000 investment in DSTOQ, a Stellar-based financial technology project that gives the opportunity to users to invest their money in traditional stocks using fiat and cryptocurrency. Stellar announced the news on its official blog and in a video from Denelle Dixon, the CEO of Stellar. DSTOQ has been building on Stellar since 2018, however, this news officializes the relationship.

 “We’re glad that DSTOQ is now part of our ecosystem,” Dixon explains. “They actually were before, but now they formally [are part of the ecosystem] with respect to the enterprise fund.”

DSTOQ gives its users the opportunity to invest in a wide range of assets. The platform’s users have the possibility to buy stocks, bonds, indices, ETFs, commodities and more. Blue-chip stocks for high-profile firms like Tesla and Amazon are also offered. The goal of the project is to provide its services worldwide. The first market of DSTOQ is Vietnam, and after that, it will expand to developing nations in Asia, Africa, and Latin America. This is compatible with the mission statement of Stellar that includes providing equitable access to the global financial system.

A smartphone-based interface is offered by DSTOQ, which reduces barriers to access even further. In December of 2019, the Stellar Development Platform published its funding mandate for the next ten years, which made the forecast about ecosystem funding events like today’s investment in DSTOQ. The source from which the funding for the investment in DSTOQ, is the enterprise fund in which according to the mandate, Stellar has put aside 8billion XLM- $550 million. This enterprise fund is just a small part of the mandate of Stellar that has 30 billion XLM, which will distribute $2billion over the next decade.

The mandate is escorted by some changes in funding. The now-defunct inflation rewards of Stellar did not succeed in distributing funds to developers. The new mandate must distribute the funds in a more effective manner. Nonetheless, there was no announcement for other investments by Stellar to this day, the news announced today is a reminder that the project will have similar announcements in the months to come. As the CEO of Stellar, Denelle Dixon said in her video announcement: “We look forward to more news like this to come.”