ChainCatcher news, the maritime economy tokenization protocol Shipfinex announced the completion of a $1.5 million seed round of financing! The financing was led by Best Oasis Limited and SPM Shipping DMCC Chairman Gaurav Mehta, and other investors included ADNOC Logistics & Services Senior Vice President Vivek Seth and Nanlian Ship Management LLC founder Yasovardhan Chinn. Although specific valuation information has not yet been disclosed, the new funds will be used to promote partial ownership of maritime assets and democratize maritime finance through blockchain.

Shipfinex also plans to work with the Dubai Virtual Asset Regulatory Authority (VARA) to develop a secure and compliant maritime asset token (MAT) market. According to information from Web3 asset data platform RootData, Shipfinex is facilitating retail and institutional investors to buy, trade, sell and own fractional shares of maritime assets. Through a secure infrastructure layer, Shipfinex is solving problems in the ship finance ecosystem, integrating the concepts of real-world asset tokenization and fractional ownership.