Fintech company SwissBorg's ICO is seeing strong interest from Asian investors, who have purchased nearly 30 percent of the ICO to become members of the first blockchain-based cryptocurrency asset management community, according to company CEO Kurus Fasel.
Last month, the Lausanne-based fintech company raised 50 million Swiss francs ($54 million) through an ICO, a fundraising mechanism in which startups issue digital "tokens" or "coins" to fund a blockchain project.
The ICO attracted more than 20,000 subscribers, including Bitmain, one of the world's largest makers of bitcoin mining processors, and Warwyck Private Bank, headquartered on the island of Mauritius.
"Fund management companies help high-net-worth clients manage their wealth. But by using blockchain technology, which connects the company and the token holder, SwissBorg aims to build a "decentralized autonomous organization model" in the wealth management ecosystem, where many more retail investors can benefit from democratic, transparent and reliable investment services." Fasel said.
All network token holders SwissBorg, which began trading on the HitBTC and LiveCoin exchanges on February 1, will have a say on proposed projects and technical guidelines that will influence the development of the investment platform and the firm's revenue streams.
“People participated in our ICO because they want to control their wealth and take part in this new financial era,” Fasel said. “Those who create good content or ideas to help our community, have a better vision, will be rewarded with tokens.”
SwissBorg also plans to develop a computer dashboard, exchange and robo-advisor (financial advice platform) for investing in other cryptocurrencies.
It has also applied for a cryptocurrency trading license in Japan, a fund management license in Switzerland and a banking license in Europe. The company plans to attract 100,000 users after receiving all necessary licenses.
According to http://www.scmp.com
You May Also Like
Russian blockchain startup HOQU is being checked by the police
The internal conflict of the company has gone beyond its scope and now the legality of the parties’ claims will be decided by the law enforcement agencies of the Russian Federation.
Third Centra Tech partner arrested and charged with crypto fraud
The US Department of Justice in a press release announced the arrest of Raymond Trapani, the third co-founder of the crypto startup Centra Tech. Thus, all three founders of the project, during which $32 million were collected during the ICO, have been charged with conducting a fraudulent token sale.
