Neufund Partners BitBay For Equity Token Trading
Blockchain-based equity fundraising platform Neufund is partnering Polish crypto-exchange BitBay to enable investors to buy and sell equity tokens with fiat currencies.
Neufund allows organizations to raise money via Equity Token Offerings (ETOs) on the blockchain by issuing equity tokens, akin to shares in a company. Investors can invest with Ether or Euro.
Neufund aims to become the first end-to-end primary issuance platform for security tokens, specializing in equity tokens. The security token market will reach a value of $10 trillion by 2020, according to a study conducted by Polymath.
Neufund has created a network of smart contracts operating on the Ethereum blockchain that allows any company, other than blockchain-based also, to issue equity tokens on a blockchain, in a public or private placement. It operates under German crypto-friendly jurisdiction.
BitBay, whose tradable fiat pairs include the Polish Zloty, the Euro and the U.S. Dollar, will be the first trading partner of Neufund to enable companies to liquidate their equity tokens against fiat currency.
BitBay will implement equity tokens into 24/7 crypto trading systems.
Neufund also said seven companies from five countries have signed up to conduct ETOs through its platform. It had earlier announced partnerships with the Malta Stock Exchange and Binance, the world’s biggest crypto exchange.
The Bitbay exchange recently announced plans to relocate to the “Blockchain Island” Malta after the last Polish Bank stopped provided services to them.
On the other hand, Berlin-based Neufund announced its support to the rapidly expanding blockchain ecosystem in the small Mediterranean island nation Malta, which plans to transform itself into a fintech hub and a crypto-friendly “Blockchain island.”
Neufund will provide Malta with European know-how and a team of experts in both regulatory frameworks and blockchain development.
by RTTNews Staff Writer
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