The maritime economy tokenization protocol Shipfinex has completed a $1.5 million seed round financing

ChainCatcher news, the maritime economy tokenization protocol Shipfinex has announced the completion of a $1.5 million seed round financing, led by Mr. Gaurav Mehta, Chairman of Best Oasis Limited and SPM Shipping DMCC, with participation from Mr. Vivek Seth, Senior Vice President of ADNOC Logistics & Services, and Mr. Yasovardhan Chinn, Founder of Nanlian Ship Management LLC. Specific valuation information has not been disclosed.

The new funds will support its efforts to achieve partial ownership of maritime assets through blockchain, thereby democratizing maritime finance and collaborating with the Dubai Virtual Assets Regulatory Authority (VARA) to develop a secure and compliant Maritime Asset Token (MAT) market.

According to Web3 asset data platform RootData, ShipFinex is achieving the tokenization of the maritime economy by providing retail and institutional investors with the convenience of buying, trading, selling, and owning fractional shares of maritime assets. With a secure infrastructure layer, ShipFinex is addressing the challenges of the ship finance ecosystem through underlying blockchain technology and integrating the concepts of real-world asset tokenization and fractional ownership.