Singapore Blockchain Startup Raises $1.2 Million in Under Three Minutes

CommPRO Editorial Staff"In a gold rush, sell the shovel" - that is precisely what this Singapore- based blockchain startup is doing to catch the attention of investors around the world.SUBX FINANCE LAB ($SFX) is a blockchain-as-a-service provider for businesses to integrate web3 technologies into their products and services. The firm provides businesses with the tools to innovate with blockchain, metaverse and decentralised finance technology. The global blockchain market size is expected to grow from USD 3 billion in 2020 to USD 39 billion by 2025. 60% of CIOs across sectors are on the verge of integrating blockchain into their infrastructure.Founded by tech consultants Adam Ihsan and Joe Kawai, the firm has the vision to drive the effective adoption of blockchain technology in a fast and cost-effective manner. Their products are easy-to-deploy and can be integrated into existing products and processes, allowing businesses of all sectors to leverage this new technology.In November 2021, the firm listed an initial exchange offering and was over- subscribed - filling their hard cap of USD 1.2 million in mere minutes. They have put together a 15-person team within a month, hiring the brightest minds from management consulting and big tech.Blockchain development is capital intensive, and not all businesses have the resources and means to explore this powerful technology. The firm remedies this painful problem by offering products that businesses can obtain at significantly lower costs. This business model has been termed "blockchain-as-a-service" by industry professionals.The firm has launched two products and is on schedule to release ten more in the coming months. Their products include a no-code NFT minting solution and a no-code platform for businesses to create their custom blockchain token. More information about their products can be found on their whitepaper at https://subx.finance/wp.These products are also compatible with the most popular blockchain networks. This includes the Ethereum network, Binance Smart Chain, Polygon Network, and the new Cronos Chain operated by Crypto.com. The firm is also releasing a white-label platform where businesses and individuals can resell products under their own brand.The firm has its native token, $SFX, which businesses can purchase to access its products. Individuals can also purchase and stake the tokens, receiving 80% APY in rewards. $SFX can be purchased on Pancakeswap and the Probit Global Exchange - and soon with VISA and MASTERCARD.According to an interview conducted with the CEO, he mentioned that the firm would focus on forming high-profile partnerships with enterprises around the globe. They will also tighten the integration of their products, ensuring that $SFX plays a central role in their ecosystem - with the intention to super-scale the price action of $SFX.Source: Blockchain Wire