BitBay Exchange Has Partnered with Neufund to Create a Platform To Buy and Sell Security Tokens
The partnership between Neufund and BitBay will see the equity fundraising platform accepting investment from investors to buy and sell equity tokens with a fiat currency. Investors could use the platform to purchase equity tokens to later exchange the crypto for cash. According to a study conducted by Polymath back in August 2017, the security token market in blockchain could be expected to rise from $50m to $10tn in 10 years. This is a huge increase in the security tokens market which many companies are looking to capitalise on.
The announcement follows Neufunds partnership with the Malta Stock Exchange and Binance which will help see investment and liquidity to the platform. Neufund will require the support of exchanges to allow investors to convert their equity crypto to fiat. The first to support this is BitBay which will allow investors to liquidate their equity tokens for Polish Zloty, Euros and US dollars.
BitBay is the third largest exchange in Europe founded in 2014 in Poland with most trades occurring here. The exchange recently moved to Malta for its operations due to regulatory concerns as it hopes to become the first fully regulated exchange, trading crypto assets alongside the traditional financial instruments. Three bills have recently been passed in Malta for the regulations of Distributed Ledger Technology (DLT) to support selling crypto and other services.
The platform currently has seven companies from five countries tokenising their shares: BRILLE24 eyetech, UNITI, mySWOOOP, NEXT BIG THING, EMFLUX MOTORS, BlockState and Founders Bank. The partnership between Neufund and its exchanges is still new in which investors hope more companies will use the platform to offer their equity tokens.
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