Leading european crypto exchange BitBay and blockchain-based equity fundraising platform Neufund have formed a partnership to enable investors to sell and purchase equity tokens with fiat currencies, according to an email CoinReport received from Blonde 2.0, Neufund’s communications firm.
A study conducted by Polymath values the security token market at $10 trillion by 2020. Tokenized securities will bring much needed liquidity to conventional investment assets that include equity instruments. With the partnership, says Neufund, it moves further ahead towards being the first end-to-end primary issuance platform for security tokens, particularly, equity tokens.
Previously, Neufund announced partnerships with MSX, a subsidiary of the Malta Stock Exchange, and Binance. The equity fundraising platform also recently proclaimed that seven firms from five countries have signed up to hold Equity Token Offerings through it and over a thousand investors have vowed future investments. BitBay, which has recently moved its operations to Malta and whose tradable fiat currency pairs include the U.S. Dollar, the Euro and the Polish Zloty, will be the first trading associate allowing for firms to liquidate their equity tokens against fiat money.
With Neufund’s association with MSX and BitBay’s move to Malta, the goal is reportedly to build the first fully regulated exchange that trades crypto asset alongside conventional financial instruments. Malta, an EU member state, has recently passed three bills regulating distributed ledger technology.
Neufund co-founder and CEO Zoe Adamovicz said, “We welcome BitBay among our partners with great excitement.
“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.”
Pinewood (operator of Bitbay.net) CEO Paweł Sobków commented, “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.”
Images via press release