Fund Management
What's New In Investments, Funds? - Swissquote
The latest in funds and investments across Europe, Middle East and Africa.
Swissquote
The online bank Swissquote has given access
to its clients to participate in initial coin offerings, a way
for companies to raise money via crowdfunding using blockchain
technology.
Up until now, to participate in an ICO, investors needed to understand blockchain technology and own a blockchain wallet. With the new Swissquote service, this is no longer required. Clients can purchase coins issued by a company directly against the Swiss franc, using their trading account. The firm will take care of the execution as well as the custody of the coins.
ICOs are a meld of crowdfunding and an initial public offering (IPO) used by blockchain companies to raise funds. Instead of shares in a company, investors in ICOs are rewarded with a new crypto-currency or digital token whose value is tied directly to the issuing company’s performance.
The firm has selected Swiss start-up company LakeDiamond for the first ICO available on the platform. Minimum purchase consists of 60 LakeDiamond coins, which is equivalent to 33 Swiss francs.
