The partnership aims to boost the adoption of a privacy-focused blockchain
Boston, MA, May 27, 2021 (GLOBE NEWSWIRE) -- COSIMO X, the world’s first tokenized fund, is now a strategic partner and investor in Dusk Network, a privacy-focused blockchain. The decision to invest in the project comes as blockchain solutions continue to be adopted by traditional financial institutions for whom privacy is a main concern.
Based in Amsterdam, Dusk is a Proof-of-Stake protocol designed for financial markets that is compliant with securities regulations. Its use cases include popular solutions such as today’s DeFi applications as well as the introduction of confidential smart contracts, confidential security tokens, a digital share registry, and a security token exchange.
Dusk Network is currently in its Testnet phase of development. It has made a $5 million grant pool available to its community to test the network as it builds towards Mainnet launch and has seen early engagement from institutional players in the sector. The project shares COSIMO X’s vision on the importance of building effective bridges between TradFi and DeFi and will offer investors the necessary privacy solutions to take this step.
Business Lead at Dusk Network, Jelle Pol, shared his outlook on the partnership. “We’re excited to work with COSIMO X and have the team’s vote of confidence. It’s a big step forward in bringing appropriate privacy solutions to the institutions who are joining the space.”
Managing Partner at COSIMO X, Connor Cantwell, has commented as well. “The team behind Dusk is very impressive. At COSIMO, we certainly share their emphasis on privacy as a force for good and their vision for Dusk as a key bridge as DeFi and traditional finance morph together in the coming years from their separate streams today.”
COSIMO X has backed a series of successful projects. The fund participated in the private sale for Casper Labs, which went on to become the largest token sale ever hosted by CoinList, and is an early investor in NDAU, whose circulating supply reached $139 million after a recent surge. The firm itself is an innovative implementation of blockchain technology as it is a tokenized fund that provides investors with added transparency and liquidity through its use of security tokens.
About COSIMO X
COSIMO X is a venture capital fund that invests in opportunities in emerging, next-generation technologies. The COSIMO team has been at the forefront of innovation and value creation for early stage companies over the past 25 years. As technology pioneers, it has developed products used by hundreds of millions of users every day and have created many firsts: from the first commercially available financial service on the Internet to the first Internet push notification.
About Dusk Network
Dusk Network is the privacy blockchain for financial applications. It is an open source and secure blockchain infrastructure that businesses can use to tokenize financial instruments and automate costly processes. The network is able to provide strict on-chain data privacy via zero-knowledge proofs.
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