The stated mission of Comdex, a decentralized synthetics protocol in the Cosmos ecosystem, is creating "global accessibility in finance." In this episode of Motley Fool Live, recorded on Feb. 3, Fool.com contributor Rachel Warren asks the company's co-founder and CEO, Abhishek Singh, how he sees that goal being achieved.
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Rachel Warren: In your view, how does a decentralized synthetics exchange, how does that further this goal of democratizing finance?
Abhishek Singh: Yes. Synthetic basically, if you think about it, it's basically getting a collateral and minting something else out of it. Then whatever you want to make, if you're minting a stable token, you want to peg it to a dollar, if you're minting gold, you want to peg it to gold's price. But when we speak about democratizing access, as retailers we don't really have access to a lot of investments, which the funds do. But these funds themselves they want earlier liquidity or just more liquidity so that they can get an early exit if they so wanted to. ShipFi will be one of the products that we'll be launching on Comdex that will address this problem. We will be tokenizing these funds itself, which is an SPV, which will be investing in whatever funds we do not have access to, and create a secondary market for the fund itself when investors like me and you, we can just use our own simple token to get a piece of it. So think of it like fractional ownership of the fund, which as a normal investor you would not have access to. The aim is to also on-board trade finance funds. Reason is because all the trading is something which we are already tracking on our chain. Once you have that visibility where if you put in a dollar in a trade finance fund, you can actually deterministically say which trade was actually funded also. We want to create that transparency in the ecosystem, and then of course this can be extended into different funds, private equity or pre-IPO funds or real estate funds. We're speaking to a Bitcoin mining fund in the U.S. so that investors can directly get access to these funds without actually having a minimum buy-in for such funds.
Rachel Warren has no position in any of the stocks mentioned. The Motley Fool owns and recommends Bitcoin. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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