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August 27: Digital Commodity Exchange (DCX), a global provider of platforms for agri products, and KL Tech City, a tech venture hub based in Malaysia will create a vehicle to promote seamless digitalization and internal transparency in agricultural markets in Asia.
DCX Asia will be the marketing and distribution arm of DCX in South and South-East Asia. KL Tech City has introduced several clients to DCX, and after several months of talks, the parties have agreed to create a JV to coordinate their efforts.
DCX Asia will be responsible for marketing and brand building in the region and attracting clients to the DCX Global Marketplace. In addition, it will promote opportunities for DCX to license its second-generation platforms as private environments for large corporate clients, as well as for regional and local marketplaces and verticals which DCX does not cover.
Stephen Edkins, Co-Founder and CEO of DCX, said, “Having worked with Suraj and his team for the last two years, we are convinced that they are the right partner for us in South and South-East Asia. Our new platform is multi-commodity, multi-tier and modular. The underlying technology is agile, meaning that we can now create a private environment in a matter of hours. It is important to have local connections and commercial insight on how to position DCX in this region where we expect to sign up new clients.”
Suraj Arora, Co-Founder and Managing Director of KL Tech City, said, “We are looking forward to building internal transparency in agri commodities with this joint venture. We believe that blockchain technology is a step towards addressing current food security concerns. South Asia is a big consumer of agri products and a large producer of the same, thus creating the potential for a dynamic trading platform.”
DCX is a global provider of platforms for agri commodities and related products. The DCX Global Marketplace allows users to connect and transact rice, fertilizer, grains and pulses. Since its launch in 2020, DCX has attracted over 200 clients from more than 40 countries. The DCX 2.0 platform allowed users to license the platform for private use, promoting seamless digitalization and trusted reporting within their groups, including external clients and service providers. The second-generation platform allows for the creation of regional and local marketplaces with smaller participants and local payment providers.
About KL Tech City
KL Tech City is a cross-regional tech venture hub that positions Malaysia at the centre of the vibrant start-up marketplaces of South and South-East Asia, bridging Asia, the Middle East and Africa with a focus on artificial intelligence, blockchain, fintech, creative industries and cleantech – the big technology trends of this generation and the next.
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