ZK International Group Co., Ltd. (ZK International) announced that it plans to fund its wholly-owned subsidiary, xSigma Corporation, which was originally created to focus on creating, servicing, and enabling technologies in the blockchain ecosystem.
xSigma was originally created to give the Company the ability to develop innovative solutions to support its core operations while exploring new opportunities in the fields of smart contracts, distributed ledgers, supply chain management, and other efficiencies afforded by blockchain architecture. With the new funding, xSigma plans to shift its focus into the decentralized finance space, focusing on decentralized exchanges, stablecoins and lending protocols. The xSigma research lab being funded is now actively working on its ecosystem of products beginning with its DeFi protocol. The ultimate objective is to build a range of financial tools and products for the flourishing decentralized finance industry. The xSigma plans to recruit a team of individuals who are on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure.