Cryptocurrency exchange BitBay has collaborated with a Berlin-based blockchain-powered equity fundraising platform Neufund.
This is according to a press release that was published last August 2.
The partnership would allow investors to buy and sell equity tokens with fiat currencies.
Neufund is looking to become the first end-to-end primary issuance platform for security tokens, focused on equity tokens. The company supports its goal with a study done by Toronto-based firm Polymath, which claims that by 2020 the security token market would reach a value of $10 trillion. Neufund thinks that tokenized securities would deliver needed liquidity to conventional investment assets, including equity instruments.
The enterprise with BitBay comes after Neufund’s recent collaboration with the world’s largest crypto exchange Binance and the Malta Stock Exchange. In addition, seven companies from five countries would conduct Equity Token Offerings (ETOs) through Neufund.
BitBay would be the first Neufund partner that lets companies liquidate their equity tokens against fiat currency as the crypto exchange’s trading pairs include the euro, the U.S. dollar, and the Polish zloty.
ETOs are supposed to be a new means of fundraising, which allows any firm, whether it is blockchain-based or not, to issue tokens on a blockchain in a public or private placement. Neufund states that ETOs incorporate advantages of Initial Public Offerings (IPOs), Initial Coin Offerings (ICOs) and a venture capital fund.
A few months ago, BitBay was forced to transfer its operations from Poland to crypto friendly Malta when local banks refused cooperation with the exchange in the middle of strengthening policy from the Polish government toward cryptocurrencies.
On the other hand, Malta has been taking massive steps forward to become a blockchain and cryptocurrency hub. Apart from BitBay, several large digital currency exchanges, such as OKEx, BitBay, Binance, have also transferred their operations to the island state.
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