VNX Platform Launched at Global Ventures Summit in Luxembourg

VNX Exchange, an asset backed token issuance and trading platform, yesterday announced the launch of its platform and the first offering of asset backed tokens at the Global Venture Summit (GVS) in Luxembourg.

The first digital assets offering of €3 million was announced at the “Ring the bell” ceremony by Alexander Tkachenko, CEO and founder of VNX Exchange, in the presence of Pierre Gramegna, Luxembourg's Minister of Finance, and In-kyu Park, from the Embassy of the Republic of Korea to Luxembourg.

The first digital asset is backed by proceeds from investment into convertible bonds issued by Streami Inc., one of the most innovative blockchain companies in South Korea. Streami Inc. is the owner of the GOPAX (TOP-3 Korean crypto exchange and DASK) regulated national crypto depositary service.

On this occasion, Pierre Gramegna stated: “VNX is one of the success stories of Luxembourg House of Financial Technology, the LHoFT”. He also said that the announced deal with the Korean company shows that FinTech brings all people together from around the world.

Alexander Tkachenko commented: “The Streami offering demonstrates the real use case of asset backed tokens to finance VC investments. We are changing the way venture funds can raise capital and increase returns”.

Junhaeng Lee, CEO and co-founder of Streami, added: “I strongly believe in the development of the assets-backed digital financial instruments. VNX offering shows how fundraising for VC industry may evolve and by extension implications to the financial industry. I am very excited and proud that Streami is the first offering presented at VNX platform”. 

The launch ceremony was followed by a panel discussion “Digital Assets – implication for the venture capital industry”, where leading experts from VC, institutional investors and the legal and technology fields had in-depth discussions on the impact of tokenisation on the industry landscape. Among the speakers were Jean-Louis Schiltz, Senior Partner at Schiltz & Schiltz, honorary Professor at the University of Luxembourg and former Minister of Telecommunications, Professor Dr. Radu State, Head of the SEDAN Group at SnT (University of Luxembourg), and Nitan Pathak, Head of Unit – Institutional Client Relationship Management at the European Investment Fund (EIF), as well as Junhaeng Lee and Alexander Tkachenko.

The GVS, being held in Luxembourg on 20-21 November 2019, is focused on empowering scaleable technologies in a high-growth market by bringing together Silicon Valley VCs, International Business Angels, corporate leaders and policy makers.