Belfrics, Malaysian-based Blockchain startup with global network of digital asset as well as Blockchain solutions is looking to raise US$30 million through 1st round funding.
This is due to the company’s successful start-up of Belrium, the world’s first KYC compliant Blockchain to addresses Know-Your-Client issue.
Furthermore, it recently released its 1st set of DAPP on the Blockchain; and is said to be the only exchange that works well with GDPR and FATF for data transformation.
According to Praveenkumar, Founder and CEO for Belfrics Group,
“Blockchain is still a nascent concept in the market; but only a handful understands the true potential of the technology. We combined the money markets and the DLT technology space to develop meaningful products…”.
Although, this startup which has now expanded throughout Asia, Africa and the Middle East; is one of the first exchanges to receive a sandbox license from Central Bank of Bahrain; Belfrics still awaits regulatory approval in Japan, Spain, US and Mexico for Fintech licenses.
Likewise, Belfrics Academy,the educational wing of the group, has recently signed MOU with a technology university in Tanzania, to train their students on Blockchain technology.
With venture capital pumping in over US$4 billion in through it in 2018, government legitimizing the digital assets and social media giants jumping into the crypto bandwagon, consequently it will remain the hottest domain space for 2019-2020.