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DFX

Switzerland
Market: Crypto currency
Stage of the project: Operating business

Date of last change: 09.04.2022
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Idea

DFX is a mobile neobroker for DeFi (Decentralised Finance) assets/tokens with connected smartphone wallet. With us, you can easily buy and sell DeFi tokens via simple SEPA bank transfer.

Current Status

We currently have >10 000 App/Wallet downloads and a monthly transaction volume of >9 000 000 EUR. Our marketing activities are constantly growing and we have a Twitter channel of more than 3200 followers

Problem or Opportunity

Previously, several steps were needed to acquire Crypto tokens on DeFiChain. DeFiChain is a protocol in the Decentralized Finance Space offering financial instruments like tokenized stocks and ETFs or decentralized loans to mirror the traditional financial system in a decentralized way. There was no direct way to invest in DeFiChain before DFX, since users needed to buy other Crypto currencies first to send them onto the DeFiChain. Non-crypto investors were overwhelmed and the UX was just not great.

Solution (product or service)

We offer direct access via simple bank transfers to assets such as tokenized shares on DeFiChain. Previously, several steps were required to acquire tokens on DeFiChain and also only in exchange with other cryptocurrencies. Users can buy and sell Crypto tokens with our smartphone wallet. In addition, we now also offer companies to invest directly in Decentralized Finance (DeFi), which was previously impossible due to regulatory issues for companies.

Business model

Our customers transfer their money to us and specify which tokens (e.g. DFI, Bitcoin or tokenized TESLA shares) they would like to purchase. We then exchange into the respective asset and transfer it into customers' wallets, vice versa for sellers. We charge a fee on the transaction volume.
In addition, we also offer staking (PoS consensus of DeFiChain) which allows customers to participate in staking rewards of the blockchain. The rewards are paid out daily either to the wallet or to the bank account of our customers. We charge a fee on the staking rewards.
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