SAN FRANCISCO — October 28, 2022 — The Stellar Development Foundation (SDF) today announced a $10 million Enterprise Fund investment in NetXD Inc., a platform that enables businesses to manage their asset securitization and digital asset custody needs.
This investment will support NetXD to build out their asset securitization capabilities on the Stellar network. Stellar will serve as the public blockchain for NetXD clients, providing greater transparency and auditability, lower costs, and ultimately expanded access to, and distribution of, digital assets. NetXD clients will also benefit from native features offered by Stellar, including speed of transactions, asset clawback and authorization features, and leverage a growing ecosystem.
“We believe that the future of embedded finance under Web3 will be redefined via a set of fundamental building blocks that integrate Layer 2 permissioned financial services seamlessly with public chains.” said Aditya Menon, Head of Products and Strategy at NetXD Inc. “This can enable trustless ecosystems that distribute assets, lower costs, promote transparency, and ultimately give consumers, both institutions and businesses, more choice.”
“Stellar’s built-in compliance features provide asset issuers the best of both worlds—the safety and control often sought from a permissioned system, with the openness and interoperability of a permissionless network—making it an ideal public blockchain partner for NetXD.” said Denelle Dixon, CEO and Executive Director of SDF. “We look forward to their integration, and to welcoming new Stellar use cases to the network.”
About NetXD Inc.
NetXD Inc. is a Web3.0 platform, focused on delivering exceptional value to fintechs, media companies, digital rights owners, green energy companies, alternative asset managers, and investors. Learn more at netxd.com.
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 7 million accounts. For more information, visit stellar.org.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visit stellar.org/foundation.