Neufund, a blockchain-based equity fundraising platform, is teaming up with European cryptocurrency exchange BitBay to allow investors to buy and sell equity tokens with fiat currencies.
The announcement follows Neufund’s recent partnerships with the Malta Stock Exchange and Binance. Neufund has also announced that seven companies have signed up to conduct Equity Token Offerings through its platform.
Neufund’s alliance with BitBay is aimed at becoming the first end-to-end primary issuance platform for security tokens, in particular, equity tokens.
“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”.
BitBay has recently moved its operations to Malta. The tradable fiat pairs supported on its platform include the Polish Zloty, the Euro and the U.S. Dollar. Neufund said that BitBay will be the first trading partner enabling companies to liquidate their equity tokens against fiat currency.
“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,” Paweł Sobków, CEO of Pinewood (operator of Bitbay.net), said.
