Neufund, BitBay Team Up to Offer Equity Tokens for Fiat

The partnership will allow companies using the Neufund equity tokenization platform to liquidate their assets in fiat currencies.

Neufund, a German blockchain platform for equity fundraising, announced it had partnered with Malta-based crypto exchange BitBay to offer equity tokens for fiat currencies.

According to its statement, Neufund has recently signed an agreement with seven companies from five countries to conduct equity token offerings through its platform, with over a thousand investors committing to future participation. These companies are active in sectors such as cosmetic, electric cars, e-commerce, and fintech. Several other partners are to be announced soon, Neufund says on its website.

The alliance with BitBay - whose tradable fiat pairs include the Polish zloty, the euro, and US dollar - will allow the partnering companies to liquidate their equity tokens against fiat currency.

Citing a study by Polymath, Neufund noted that the security token market was projected to hit $10 trillion in value by 2020.

“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,” commented Neufund co-founder and CEO Zoe Adamovicz.

“Our partnership with Neufund aims to bring security tokens to BitBay’s everyday operations in a fully compliant and regulated way,” added Pawel Sobkow, CEO of Bitbay.net operator Pinewood.

Based in Berlin, Neufund offers an investment protocol for securities tokenization and issuance. Along with Binance, it recently invested in Malta-based decentralized crypto bank project Founders Bank.