Crypto Exchange BitBay, Neufund Partner To Enable Equity Token Trading With Fiat Currenciesbr>
Neufund’s platform allows both well-established and new companies to get funding by issuing blockchain-based equity tokens. These tokens are issued as a result of an investment process that, in many ways, is similar to the process that a startup goes through when funded classically. In particular, a company must prove to investors that its shares/tokens have value.
Founded in 2014, BitBay is the third largest cryptocurrency exchange in Europe. It offers trading support for 29 cryptocurrencies including bitcoin, ethereum, and Litecoin. In May of this year, the exchange was forced to move its operations from Poland to Malta due to Polish banks’ unwillingness to work with the exchange.
The partnership with BitBay follows Neufund’s recent collaboration with the Malta Stock Exchange and crypto exchange Binance. Bitbay will join Neufund’s growing community of secondary market partners and aims to trade equity tokens issued through Equity Token Offerings. BitBay, whose tradable fiat pairs include Polish Zloty, Euro and US Dollar, will be the first trading partner enabling companies to liquidate their equity tokens against fiat currency.
“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,” said Zoe Adamovicz, CEO and Co-founder at Neufund.
“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,” said Paweł Sobków, CEO of Pinewood, operator of Bitbay.net.