Dubai International Digital Asset Exchange, or DBEX, today announces the completion of a pre-A round of investment worth hundreds of millions of RMB from 19 global investors.
Chinese investors including Sino-Burmese Fund, Hanfor Capital Management and Shangshan Wealth and Investment, participated in the round.
Backed by Dubai-based The Blockchain Group, DBEX is a physical digital asset exchange located on the 151st floor of Dubai International Financial Center (DIFC) at Burj Khalifa, which is the world’s tallest building at 828 meters. It provides audit system as well as over one hundred relevant listing standards for cryptocurrencies that will be listed on its exchange.
With an independent blockchain research and assessment system, DBEX will analyze projects’ whitepaper, application scenario, technology, founding teams, probability for application and progress to achieve multi-dimensional evaluations.
DBEX is in the process of completing more investment rounds to support beta testing, third-party security audit, code review, global node announcement, and official launch of the digital asset exchange in Dubai during the fall 2018. Before the end of the year, DBEX aims to be in full operations, with third-party wallet integration, iOS and Android app release completed.
DBEX is one of the major investment projects of The Blockchain Group. Established in Dubai, The Blockchain Group has two major business units, global blockchain project incubation services and digital asset exchanges. The incubator program has entered the last stage of preparation and will soon be available to blockchain projects around the world.