Cryptex Finance launches innovative category index tokens in Dubai

Sajjad Ahmad, Deputy Business Editor

Cryptex Finance - a decentralized protocol making crypto native markets accessible to users worldwide, announced the upcoming launch of a new range of category-based index tokens for the crypto community. The announcement was made by Joe Sticco, co-founder of Cryptex Finance, during a press conference held at the Dubai World Trade Centre on the sidelines of the Token2049 event.

Unveiling the new indexes which include AI-specific, Memecoin baskets, and Layer 2 (L2) indexes, Joe also announced the protocol will utilize Chainlink Data Feeds to secure these tokens, further building upon the protocol being powered by Chainlink Oracles.

Expressing his enthusiasm about the new indexes and wider vision to deepen Cryptex’s presence in the MENA region, Joseph Sticco said, “Cryptex is thrilled to announce the Decentralized Autonomous Organization’s (DAO’s) latest innovations here in Dubai, a city that has established itself as a leader in embracing and regulating digital assets. Our new index offerings, powered by Chainlink’s industry-standard, real-time data oracles, and deployed on the Base L2 network, are set to redefine how the global market accesses cryptocurrency markets as we work to bring the next billion users fully on-chain. The MENA region’s progressive stance on technology and finance makes it the perfect place to advance our vision, and we look forward to seeing more users leverage the strengths of our platform.”

Cryptex Finance, known for its 100% fair launch and robust community governance, continues to innovate in the blockchain space. The DAO’s first product, TCAP (Total Market Capitalization), is an ERC-20 token that tokenizes the total market capitalization of all listed cryptocurrencies. Building on this foundation, Cryptex is expanding indexes to include AI-specific, MemeCoins, and Layer 2 (L2) indexes. These additions cater to the growing demand for decentralized and secure products in the crypto industry, demonstrating Cryptex’s commitment to innovation and decentralization.

This strategic announcement aligns with Cryptex’s goal to expand its brand presence in the MENA region, coinciding with the company’s aggressive push to position itself as a leader in the next generation of financial technology. The announcement further underlines Cryptex’s commitment to tap into emerging tech hubs, fostering relevant partnerships to propel the adoption of advanced decentralized crypto financial tools.