NEW YORK, NY / ACCESSWIRE / September 21, 2022 / VegaX Holdings (“VegaX”), the financial technology company that provides proprietary infrastructure solutions to support the growth of structured products across the institutional crypto market globally, announced the company’s Series A funding round led by Danal Fintech Corporation (“Danal Fintech”), the leading provider of payment solutions in South Korea.
Danal Fintech, a subsidiary of Danal Inc. which is one of the largest providers of integrated B2B payment solutions in South Korea, is the operating body of Paycoin and a global leader in integrated fintech payment solutions. Danal Fintech’s investment in VegaX continues to reinforce its leadership position as an early adopter of value technologies.
VegaX will primarily use this funding round to support its enterprise solutions product development roadmap and the optimization of its proprietary AI engine to include white label solutions for institutional customers across the US and South Korea. Sang Lee, Co-Founder and CEO of VegaX said, “We are thrilled to have Danal Fintech’s partnership and support as a lead investor in our Series A round. As we continue to build core technology infrastructure solutions to support Web3 resources for institutions and B2B partners across the US and Asia, we look forward to working with Danal’s team to provide unparalleled and reliable digital asset management solutions to support the growing market.”
As institutions explore technology solutions to navigate the crypto and Web3 markets more effectively, this funding round signals institutional interest in the infrastructure solutions required to support the next stage of growth for the digital asset market globally.
CEO of Danal Fintech, Yong Taek Hwang stated: “Danal Fintech will be able to effectively explore opportunities and provide our clients with seamless access to digital asset products globally. Thanks to VegaX’s proprietary technology, we see long-term synergies that will create significant value on across our companies and businesses in the long term.”
The latest funding announcement follows VegaX’s venture capital-backed seed round led by SOSV and Artesian in 2020, and marked another milestone for the fintech firm as a global leader in creating fintech solutions to bridge the gap between the traditional financial world and the future of decentralized. finance. Due to a recent influx of traditional funds and institutions actively seeking the firm’s crypto index products and technology, VegaX offers enhanced solutions to address issues including but not limited to: onboarding, custody, security, research and seamless access to various crypto products.
About VegaX Holdings:
VegaX Holdings (VegaX) is a financial technology company that provides infrastructure solutions to support the growth of structured products across the institutional crypto market via actionable crypto indices and proprietary automated portfolio rebalancing tools. Established in 2019, VegaX creates the next generation indices and financial products necessary to support the growth of the cryptocurrency industry and improve returns for investors worldwide. Headquartered in New York, NY and Seoul, South Korea, VegaX has a globally distributed team passionate about building infrastructure to support the next generation of digital assets. Better indices, better returns – VegaX: https://vegaxholdings.com/
Management:
Sang H. Lee – CEO, Co-Founder
Natasha Bansgopaul – COO, Co-Founder
About Danal Fintech Corp. (Danal Fintech):
Danal Fintech Corp. is a subsidiary of Danal, a supplier of integrated payment solutions. Established in 2019, Danal Fintech operates “Paycoin” – the first and largest virtual asset payment service in Korea and leads a new paradigm in the payment market through the company’s 20 years of knowledge. Paycoin focuses on solving problems seen in the payment market such as high commission and slow settlement cycles. With blockchain technology, Paycoin expanded the payment infrastructure and renews the value chain for both merchants and customers. Paycoin is also listed on exchanges such as Bithumb, COINONE, Upbit, etc. Danal Fintech is constantly growing through challenging new ideas and innovative technology.
Cryptocurrency based lifestyle platform – Danal Fintech: http://www.danalfintech.com/eng/
Management:
Yong Taek Hwang – CEO
Social links
Medium: https://medium.com/@VegaXHoldings
LinkedIn: https://www.linkedin.com/company/vegaxholdings
Twitter: https://twitter.com/VegaXHoldings
Facebook: https://www.facebook.com/VegaXHoldings/
Instagram: https://www.instagram.com/vegaxholdings/
Media contact
Company: VegaX
Contact: Media Team
Email: [email protected]
Website: https://vegaxholdings.com/
SOURCE: VegaX
