CoinJax, a cryptocurrency exchange created to disrupt the way exchanges are operated by introducing transparent community voting and democratisation of decision making via an access token, has received seed funding from Asia Focus Group.
CoinJax was co-founded in 2018 by serial entrepreneurs Jeremy Khoo, Christopher Low and Lee Jing Chuan. The founders have been involved in the cryptocurrency trade as early as 2011, and also in blockchain projects since early 2017 through Novum Capital, a blockchain accelerator, and CRC Capital, a blockchain investment group, and have thus established a wide network of investors, traders and blockchain companies.
The seed round was led by cornerstone investor Asia Focus Group, which is a venture builder in Asiawith a mandate for investing in high-tech projects in high growth industries. Existing founders also participated in the round.
Investor validation of CoinJax’s unique model in operating a cryptocurrency exchange comes at a time of when there is a flurry of different exchanges being set up all over the world to cater to the growing demands of the blockchain and associated cryptocurrency industry.
“We are excited for the future of the cryptocurrency markets and believe strongly that the CoinJax team can deliver one of the best crypto exchanges out there,” says Jensen Yee, Managing Partner of Asia Focus Group.
CoinJax’s main proposition rides on the usage of an access token to enter and participate in functions including trading on the CoinJax platform. It will also allow a host of different democratised actions such as coin entry/listing voting, platform improvement voting, strategic direction voting etc.
“There is no better time than now to introduce a highly compliant and transparent cryptocurrency exchange with a strong focus on security,” says Lee Jing Chuan, founder CoinJax. “We invite early users to participate in this potentially high growth phase of our exchange.”
CoinJax is also set up with scalability, security and compliance in mind, deploying state-of-the-art security measures and processes to ensure that customers funds are always kept safely, and deliver on a seamless trading experience. CoinJax is secured by Antihack.me, Asia’s top cybersecurity bug bounty platform, which demonstrates CoinJax’s commitment to tackling the ongoing cybersecurity threat in this space.
CoinJax will be making a full market launch in Oct 2018, and is currently inviting customers to sign up on its website.