Fund Management

What's New In Investments, Funds? - Swissquote

Editorial Staff, 23 October 2018

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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.

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