Blockchain investor coinIX invests in Damex, a company developing a crypto banking application with move-to-earn functionality

Hamburg, October 6th, 2022 - The Hamburg based investment company coinIX GmbH & Co. KGaA, which specializes in investments in digital assets and blockchain technology, invests in Damex. 

Damex offers a crypto banking app allowing users to fully manage their digital wealth within one application.

For this purpose, Damex will issue a debit and credit card through a partnership with Visa that will allow users to hold and spend cryptocurrencies and fiat in one ecosystem. Through its parent company, Digital Asset Management Ltd., it is approved to offer crypto custodianship and broker/dealer services as a financial institution.

In addition, the smart finance application uses non-fungible tokens (NFTs) and its native currency token $Damex to reward individuals for a healthy and active lifestyle. Users will be able to stake $Damex tokens and track their daily activity in order to unlock benefits in the form of lower transaction fees or higher cash back rewards. 

With Digital Asset Management Ltd., which was founded in 2017, the team has successfully delivered over the counter (OTC) trading services for digital assets for four years. So far the focus has been on institutions and high networth individuals. The new Damex application will expand those services to retail customers as well.  

Sam Buxton, Founder of Damex: “Established in 2017, DAMEX was one of the first companies in Gibraltar to receive the prestigious Distributed Ledger Technology license from the Gibraltar Financial Services Commission. We have executed over 3 billion EUR in crypto transactions since 2019 for over 500 clients and I am extremely excited to introduce Damex Token into our Damex App ecosystem. Having the backing from strong VC's such as coinIX is a testament to the quality and ambitions of our project.”  

Susanne Fromm, CEO of coinIX: "Onboarding of retail users into the digital asset ecosystem remains a challenge and offers great opportunities. The combination of Damex’ easy-to-use application with move-to-earn gamification incentivizing a healthy lifestyle and their strong experience in the crypto space is very promising to coinIX."

Press contact: Susanne Fromm, CEO, sf@coinix.capital, +494035676758

Investor Relations: Felix Krekel, CFO, fk@coinix.capital, +494035676758

About coinIX

coinIX GmbH & Co KGaA, based in Hamburg, is a listed investment company and has been investing in the broad spectrum of blockchain innovation since 2017. This includes the next level of digitalization in traditional industries, as well as new fields such as Decentralized Finance (DeFi) or NFT/Metaverse projects. For this purpose, coinIX invests in equity of startups, early token projects and liquid cryptocurrencies. It offers a listed share that is traded on the open market of the Düsseldorf Stock Exchange (WKN: A2LQ1G | ISIN: DE000A2LQ1G5 | Ticker: XCX).