Official Press Release
Neufund announces its partnership with BitBay, a leading European crypto exchange. The Malta-based exchange joins Neufund’s growing community of secondary market partners and aims to trade equity tokens issued through Equity Token Offerings allowing investors to buy and sell equity tokens with fiat currencies.
BERLIN — October 2018 – Neufund, the blockchain-based equity fundraising platform, is partnering with leading European crypto exchange, BitBay, allowing investors to buy and sell security tokens with fiat currencies. The security token market will reach a value of $10 trillion by 2020, according to a study conducted by Polymath. Tokenized securities will bring much needed liquidity to traditional investment assets, including equity instruments. In welcoming the partnership with BitBay, Neufund takes another step towards becoming the first end-to-end primary issuance platform for security tokens, in particular, equity tokens.
Today’s announcement follows Neufund’s partnerships with the Malta Stock Exchange and Binance, the world’s biggest crypto exchange. Neufund also recently announced that seven companies from five countries have signed up to conduct Equity Token Offerings through Neufund, and more than a thousand investors have pledged future investments. BitBay, whose tradable fiat pairs include the Polish Zloty, the Euro and the U.S. Dollar, will be the first trading partner enabling companies to liquidate their equity tokens against fiat currency.
BitBay has recently moved its operations to Malta, while Neufund has announced its partnership with MSX, a subsidiary of Malta Stock Exchange. The aim is to create the first fully regulated exchange, trading crypto assets alongside traditional financial instruments. Malta, an EU member state has recently passed 3 bills regulating DLT.
“We welcome BitBay among our partners with great excitement”, comments Zoe Adamovicz, CEO and Co-founder at Neufund. “It is Neufund’s mission to make fundraising more inclusive and easier for companies, while bringing investors more liquid investment assets, and our partnership will enable investors to liquidate their investments directly into fiat currencies”.
“Our partnership with Neufund aims to bring security tokens to BitBay’s everyday operations in a fully compliant and regulated way. We are proud to be on the frontline of implementing equity tokens into 24/7 crypto trading systems,” comments Paweł Sobków, CEO of Pinewood (operator of Bitbay.net), on today’s announcement.
Neufund is a Berlin based investment protocol for securities tokenization and issuance – it allows for any type of security or financial product to be issued as a token on Blockchain. Neufund’s Equity Token Offering (ETO) is a novel way of fundraising, which allows any kind of company (blockchain-based or not) to issue security tokens on a Blockchain, in a public or private placement. An ETO is a hybrid investment model combining advantages of an IPO, an ICO, and a VC round. Neufund’s platform is a primary market offering for capital raising which already attracted investment pledges from notable community of investors, including Frank Thelen (Freigeist), Christophe Maire (Atlantic Labs), Alexander Lange (Index Ventures) and Max Kordek (Lisk).
BitBay is the third largest cryptocurrency exchange in Europe. The platform was founded in 2014 in Poland. Its market share in the home country is around 70%. From the very beginning, BitBay has focused on international expansion. Today it has nearly 1 million users worldwide and employs more than 100 people. The exchange lists over 20 cryptocurrencies and allows for fiat deposits and withdrawals in USD, Euro, and Polish Zloty. Following the rapidly growing cryptocurrency community, BitBay is developing and expanding its offer with unique and original products such as an internal fiat exchange, the PRO mode for advanced traders, crypto payment gateway BitBayPay, and professional ICO services. In 2018, BitBay was awarded the Best Cryptocurrency Exchange during Cryptocurrency World Expo – Berlin Summit.
Zoe Adamovicz, CEO and Co-Founder
Marcin Rudolf, CTO and Co-Founder