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Singapore's Blockchain -As-A-Service Model Raised $1.2 Million in Initial Exchange Offering

Singapore’s Blockchain-as-a-Service Model Raised $1.2 Million in Initial Exchange Offering

Posted Monday, December 6, 2021 by
Sophia Cruz • 2 min read

This year has been a groundbreaking turning point for the revolutionary cryptocurrency industry. In the future, the whole blockchain industry is foretold to rise from $3 billion in 2020 to $39 billion in 2025, with extensive enterprises already integrated with blockchain technology.

Singapore’s SUBX Finance Lab is a blockchain startup that was founded by two technology advisers, Adam Ihsan and Joe Kawai, with a mission to grant businesses the possibility to integrate with blockchain, DeFi and the metaverse. It utilizes a blockchain-as-a-service provider for companies to infuse web3 technologies with their merchandise and services. $SFX is the utility BEP-20 token that is first built on the Binance Smart Chain. SFX token is used to stake, hold and pay a particular amount of $SFX to enter and use products and services. Users can earn staking rewards and participate in the reward pool DAO. $SFX is already available for purchase on Probit Global Exchange and PancakeSwap, and it will soon be available for purchase via Mastercard and Visa. 

The company’s development strategy is to create products on top of existing blockchain protocols in the market and eventually integrate them into an ecosystem of projects governed by $SFX. SUBX Finance Lab has two product categories, namely Solutions and Infrastructure, built to create a thriving and defensible ecosystem. Infrastructures include Genesis (a no-code platform that allows businesses to generate their own token), Synergy (a low-code protocol for integration of business tokens with existing applications and websites), Congress (a voting-as-a-service platform), Bounty (a staking-as-a-service platform), Mint for NFT minting and Swap (a DEX interface). 

With this comprehensive roadmap, the company raised $1.2 million in less than 3 minutes of its initial exchange offering. SUBX Finance Labs is making intial small steps, and intnds to scale up quickly. Its collaboration with major companies and global corporations will boost its popularity and guarantee mainstream adoption.

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