IHOFX, a leading commodity exchange in Asia that is working hard on providing innovative products across different asset classes and creating a brand culture known for its original methods, risk management facilities and global insights, today announced that it will participate in the funding of its strategic technology partner in order to expand smart contract language thus contributing to the increase in Series C funding.
The funds will be used to fasten the implementation of DAML (Digital Asset Modeling Language) across different industries, enlarge the variety of DAML products and improve new products created to enhance DAML usage. This programming language is used to create smart contracts or computer programs that digitalize the business process and it simplifies and enforces the arrangements between the involved entities.
“DAML gives you space to concentrate on the action to be taken in order to differentiate a product and exclude the complexity that prevents adding value to your business. A lot of time is wasted on undifferentiated work. With this funding we move on towards the objective of adding value by providing an essential smart contract experience”, said Kwan Seo-jun, Chief Executive Officer.
IHOFX cooperates with the financial technology company as an interested party to provide commercial integration of DAML with other partner platforms. The common interest stands in enabling market participants, from large enterprises to start-ups, to develop safe, complex, compliant and operationally robust applications with increased tempo. A further partnership is expected to integrate DAML with several blockchains.
“We are glad to offer support as a form of ongoing commitment to succeed and achieve the highly expected results. The funding allows us to contribute to the expansion of DAML-enabled platforms and provide our services to a growing database across different industries”, said Jin Yong-sun, Head of Commodity Trading.
About Incheon Options and Futures Exchange (IHOFX)
IHOFX.org is an exchange venue that has leveraged the industry-leading technology and developed infrastructure to provide a price-time allocation and maker-taker pricing model. IHOFX is one of the leading commodity exchanges in Asia and has made a name for itself by dealing with a wide range of commodity and financial products. IHOFX is working hard on providing innovative products across different asset classes and creating a brand culture known for its original methods, risk management facilities and global insights.
Media ContactCompany Name: Incheon Options And Futures Exchange – ihofx.orgContact Person: Byun Ye-wonEmail: Send EmailAddress:Songdo Posco E&C Center 1, Songdo New City City: IncheonCountry: South KoreaWebsite: https://ihofx.org/kr/index.php
