Koibanx, an asset tokenization platform based in Argentina, has raised $22M in its first investment round.
The fintech allows financial entities to tokenize assets and bring them to blockchain, fragment them, enable their use as a means of payment, and exchange them with each other and with cryptocurrencies.
Koibanx was founded 7 years ago and is present in Mexico, Colombia,El Salvador, Argentina, and Uruguay. The company has already worked with over 10 banks, 15 financial institutions, and 4 governments. For example, Koibanx supports the Nigerian government in implementing its wallet through “a massive tokenization program that could become one of the largest crypto projects in the world.”
The co-founder and CEO of Koibanx Leo Elduayen, shared the following:
“We want to remain at the forefront of redefining Latin America’s financial system. A Blockchain-based financial system inevitably results in faster, scalable, and programmable financial products that will grant access to a broader segment of the population that is currently underserved.”
The new funding will be used by Koibanx to strengthen its blockchain infrastructure and continue helping traditional banks expand their operations in Central America.
